Fla. Cities Lead Nation In High-End Foreclosures
ORLANDO, Fla. (AP) — Two Florida cities lead the nation in foreclosures of high-end properties worth $5 million or more.
The research firm RealtyTrac said in a report Wednesday that Miami and Orlando were at the top of the list of foreclosure activity on homes in the $5 million-plus range.
Other cities with high numbers of foreclosure activity on high-priced homes included the Los Angeles area, metro Atlanta and metro New York City.
At the state level, Florida and California made up 60 percent of the high-end foreclosures this year.
The number of high-end foreclosures is relatively small — only about 200 compared to the 1.2 million properties that had foreclosure activity this year.
But while overall foreclosure activity is down this year, it is up for the high-priced homes.
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