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Foreclosure Activity in Miami Down 18% in August

by Peter Thomas Ricci

Foreclosure activity in the Magic City remains high, but it’s fallen by a decent amount from 2012.

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Foreclosure activity in the Miami area was down a promising 18 percent year-over-year in August according to the U.S. Foreclosure Market Report from RealtyTrac, though the metropolitan area still has the highest foreclosure rate in the nation.

News was similar at the state level, where Florida saw foreclosure starts fall by 65 percent; but again, with 1 in every 383 homes receiving a foreclosure filing in Florida, the state has the highest foreclosure rate in the U.S., though filings were down 14 percent from July and 15 percent from August.

For additional perspective on how much foreclosure activity has declined in recent months, check out our infographic below, which compares peak-forclosure activity for the largest metropolitan areas to August’s total.

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