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Renzo Salazar maintains the yard around a foreclosed home after the bank hired him to keep the home from falling into complete dilapidation on November 10, 2011 in Miami, Florida. The Sunshine State has passed California to become the epicenter of foreclosure activity in the U.S.
A year ago, all the negative news about foreclosures was concentrated on California and its hard-hit cities. But now another state known for its pleasant weather and alluring beaches is making the news.
Foreclosures in California continue to fall. February marked the fifteenth consecutive month of year over year declines, reported Irvine-based real estate analytics firm RealtyTrac.
February was also the first month since December 2006 that California wasn’t in the top ten states nationally for foreclosures.
The Golden State fell to number 13, while the Sunshine State—Florida—turned in its sixth month in the number one position.
One in every 282 homes in Florida has a foreclosure filing in February versus one in every 757 for California.
Nationally, foreclosures ticked up 10 percent in February, but fell by 25 percent compared with the same month a year ago.