According to RealtyTrac's January 2017 report, 1 in every 1,149 homes in Florida is in the process of foreclosure, 19% lower than December 2016. Baker County now has the highest foreclosure rate in the state of Florida with 1 in every 369 homes.
In January 2017, foreclosure rates were 32% lower in January 2016. Throughout the United States, the share of homes in foreclosure fell 12.94% since last year.
According to Credit.com:
Much of the decrease came from a decline in foreclosure starts (default), which fell 11.55% from December and 20.11% from January 2016. A great deal of foreclosure activity came from banks purchasing foreclosed homes — the end of the process.
2017 Housing Market PRedictions
Forbes.com released an article back in January that provided eight predictions from experts monitoring the housing outlook of 2017.
- Home sale rices will continue to slowly rise: around 5.3% compared to 2016.
- Affordability will worsen as we see a shortage in the share of homes that cater to a medium income.
- Mortgage rates will skyrocket, influencing many people to rent rather than buy.
- Credit availability may improve as banks to a wide range of would-be home buyers.
- Supply will remain short but improve if Trump proves to be a "friend" to the industry.
- More Millennials will become homeowners as inland markets become more affordable.
- Competition will rise.
- Policy uncertainty will replace political uncertainty with Trump's ever-changing priorities.
Northeast Florida Foreclosure Rates
- Nassau County: 1 in every 1,003
- Duval County: 1 in every 1,339
- St. Johns County: 1 in every 1,900
- Clay County: 1 in every 997
- Putnam County: 1 in every 659
- Flagler County: 1 in every 1,282
Duval County Breakdown
In January 2017, Duval County saw a 44% decrease in foreclosure filings compared to December 2016, 60% lower than the same time last year.
- Jacksonville: 1 in every 1,297
- Atlantic Beach: 1 in every 1,160
- Neptune Beach: 1 in every 3,584
- Jacksonville Beach: 1 in every 1,958
More Local Information
If you live in Northeast Florida and would like more information about local foreclosure statistics or you yourself need legal assistance with a foreclosure filing, contact Alisa Wilkes, Jacksonville real estate attorney, today at ((904) 620-9545.