According to the real estate information provider ATTOM Data Solutions, the State of Florida ranked third in the nation as to the number of new foreclosure starts during the month of November.
There were 1,709 cases filed throughout the state which exceed all but Texas (2,114 foreclosure starts) and California (2,244 foreclosure starts).
Of those metro area that have a population greater than one-million, Miami ranked among the top 5 with respect to new foreclosure cases.
- New York, NY: 1,593 foreclosure starts
- Chicago, IL: 1,028 foreclosure starts
- Houston, TX: 685 foreclosure starts
- Miami, FL: 657 foreclosure starts
- Los Angeles, CA: 642 foreclosure starts
Recent Florida Housing Trends
Although residential home sales throughout the state have slowed from 2021, the number of transactions have remained above pre-pandemic levels. As of the third quarter 2022, there were 100,306 closed sales which was fairly consistent with 2019 (111,489) and 2018 (104,878) levels.
Although the most recent quarter shows signs of stabilization, median sale prices continue to remain high throughout the state. As of the end of the third quarter 2022, the median sale price was $375,000. While this was down slightly from the second quarter ($380,188), it is up 16.3% year-over-year.