Once the foreclosure capital of America, Florida is now ranked No. 2 in foreclosure activity, falling behind Nevada in August, the Miami Herald reports.
Martha Brannigan, a writer for the paper, says the drop "reflects a 65% decrease in new filings," based on RealtyTrac data.
She elaborated on the situation this week:
In August, one in every 383 residences in Florida received some type of foreclosure filing.
A total of 23,372 Florida properties received foreclosure filings in August, down 14 percent from July and down 15 percent from a year earlier, according to the Irvine, Calif.-based data firm.
Foreclosure activity includes new case filings, scheduled auctions and repossessions.
"That annual decrease in overall Florida foreclosure activity came on the heels of three consecutive months with annual increases and 16 of the last 19 months with annual increases," RealtyTrac said.