Which State Just Topped the Foreclosure List?
Florida just posted the worst foreclosure rate in the country, one filing for every 2,106 homes, with Charlotte and Polk counties leading the carnage.
June’s national numbers dropped 3% month over month, but that dip sits against a market still running 21% hotter than last June.
Lenders slowed new foreclosure starts even as banks accelerated REO completions, up 17% from May.
South Carolina, Indiana, Nevada, and Illinois round out the top five, a reminder that distress is showing up far outside the coastal markets everyone watches.
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U.S. Foreclosure Rates by State
Foreclosure filings climbed 21% year over year in June. REO completions rose even faster, up 23% annually and 17% from May alone. Florida, South Carolina and Indiana top the state rankings as inventory keeps surfacing across those markets.
Condo Prices Fell by 15% to 33% in 30 Bigger Cities Already
Condo prices have dropped 15% to 33% across 30 major cities, with some back to 2006 levels. Miami and San Francisco owners face assessments, rising HOA fees and tighter financing. New supply adds pressure, tilting leverage to buyers.
Rents Buckle as Supply Surges, Growth Fades
Rents are slipping in Austin, Denver, Phoenix and D.C. as a wave of new apartment supply lands while population growth cools in those metros. CMBS delinquencies above 7% show the strain hitting loans, widening the gap with single-family rents.
Builder Confidence Remains Stuck Near Post-Recession Lows
Builder confidence sits at 34, its 15th straight month under 40. Thirty-seven percent of builders are cutting prices outright, and 63% are leaning on incentives instead. That signals a builder base retreating from land rather than expanding into it.
Here’s Why the Housing Market is Hurting So Much This Summer
Pending home sales dropped 5.4% in June as mortgage rates climbed to 6.64%. Builder confidence sits at 34, and 63% of new construction now carries incentives. That combination has shifted the summer market decisively toward buyers.
300,000 Empty Lots Could Close America’s Housing Shortage by 6%
Zillow counts over 300,000 empty lots on the market, 17.4% of all listings nationwide, concentrated in Florida and Texas. That inventory could close 6% of the housing shortfall, though weak builder confidence limits how fast it gets absorbed.
