South Florida Ranks #10 in Nationwide Foreclosures

Today, RealtyTrac Inc. announced that South Florida has the nation's 10th-highest foreclosure rate, with 3.89% of homes receiving a notice during the first half of 2010.

In terms of sheer numbers, the Miami metro area, which includes Palm Beach, Broward and Miami-Dade counties, led all regions with 94,466 homes in some stage of foreclosure from January through June. That's off 8% from the previous six months, but up roughly 11% from the first half of 2009.

Florida led with nine communities on the list, including #8 Orlando. Florida, California, Nevada and Arizona accounted for all top 20 metro foreclosure rates.

James J. Saccacio, RealtyTrac's chief executive, indicated that while foreclosures may have peaked in some markets, the lack of job growth could continue to be a drag on housing. Therefore, more foreclosures would lead to more price declines.