Florida Defies Housing Rebound as Foreclosures Soar – Bloomberg 01-17-13

Salient to Investors:

RealtyTrac said Florida had the biggest increase in home seizures in 2012, and the highest foreclosure rate – 1 in every 32 Florida households received a notice of default, auction or repossession versus 1 in 72 for the nation.

Robert Tayon at Barclays said Arizona dealt with their problems, whereas Florida hasn’t come down from the elevated level of foreclosures.

Florida took an average 853 days to complete a foreclosure in Q4 2012, third behind New York and New Jersey and versus the U.S. average of 414 days and Texas average of 113 days.

Read the full article at http://www.bloomberg.com/news/2013-01-17/florida-defies-housing-rebound-as-foreclosures-soar-mortgages.html.

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