Franklin County’s foreclosure rate has dropped to 10%, while Florida’s overall rate is still high at 26%. The national rate is now only 10%, too.
While the widespread housing market recovery continues, foreclosures have fallen to pre-housing bubble levels, according to RealtyTrac’s latest Housing Market Recovery Index released this week. The foreclosure activity is 65% below its peak rate nationally. But the recovery is happening at different speeds in various markets.
Southwest Florida is one area leading the recovery with rising prices fueled by cash purchases and investor buyers. And Franklin County’s rate is comparable to the national average. But other parts of Florida still have foreclosure activity much higher than the national rate.
