When it comes to November's foreclosure activity, California and Florida have switched places, real estate analytics firm RealtyTrac reports. But the two states still have a lot in common when it comes to real estate woes.
Nationwide, 16 of the top 20 cities for foreclosure activity are in California or Florida, said RealtyTrac. Both states have cornered the entire top ten for cities with populations over 200,000.
But for a change, California is in the bottom three (Riverside-San Bernardino-Ontario, Stockton and Modesto), while Florida took the top seven spots. As recently as August, Modesto was the number one city for foreclosure activity in the U.S.
In November, the Palm Beach-Melbourne-Titusville metropolitan area led the list. There, one in every 158 homes faces foreclosure.
Foreclosure activity declined year-over-year in all of California’s top 10 cities, while in Florida, it increased. But overall in California, foreclosure rates are still among the country’s highest, with one in every 430 homes receiving a filing in November.