Central Florida’s housing market still ranks higher than the national average for foreclosure inventory, according to CoreLogic. The Orlando area’s foreclosure inventory in May was 2.6 percent, down 2.5 percentage points year-on-year. A total of 13,690 foreclosures was completed in the region during the 12 months ending in May. The serious delinquency rate in the Orlando-Kissimmee-Sanford area in May 2015 was 6.1 percent.
“While the nation’s seriously delinquent rate — 3.5 percent — is at its lowest level since January 2008, it remains very high in several big markets,” said Anand Nallathambi, president and CEO of CoreLogic. “The greater New York City region and Central Florida continue to have some of the highest serious delinquency rates, almost doubling the national level. Default rates remain elevated in the Chicago and Baltimore metro areas as well.”
The five states with the highest number of completed foreclosures for the 12 months ending in May were: Florida (104,000), Michigan (46,000), Texas (33,000), California (28,000) and Ohio (27,000). These five states accounted for almost half of all completed foreclosures nationwide.
