Florida foreclosure rates drops, still among the worst

TAMPA — Third quarter foreclosure activity in Florida decreased 17% year-over-year, states a new report, but the rate remains the second worst nationally.

One in every 186 units in the state had a foreclosure filing in the quarter, according to the report, from national real estate data source RealtyTrac.

Foreclosure starts in the sate decreased 28% from a year ago, and scheduled foreclosure auctions dropped 46%, RealtyTrac reports. Bank repossessions, however, increased 34% from the third quarter last year.

Five regions in Florida posted foreclosure rates in the top 10 nationally: Jacksonville at No. 2; Deltona-Daytona Beach-Ormond Beach at No. 3; Tampa at No. 4; Miami at No. 5; Lakeland at No. 7.

Overall, nearly 134,000 U.S. properties started the foreclosure process in the third quarter, marking a 10-year low and a 14% drop from the previous year, RealtyTrac reports.