RealtyTrac LogoIf it weren’t for Las Vegas, Florida cities would dominate RealtyTrac’s list of cities based on their percentage of short sales and public foreclosure auctions. However, no state metro areas made a top spot on RealtyTrac’s list of top areas for bank-owned home (REO) sales.

According to RealtyTrac data, 23.1 percent of Florida home sales in the third quarter were distressed, a term that includes short sales, REOs and public auctions. Distressed sales made up 23.1 percent of all sales for the third quarter, compared to 12.7 percent nationally.

The breakdown: Short sales made up 9.3 percent of all sales from July through September in Florida (nationwide it was 3.8 percent); REOs made up 10.7 percent (7.8 percent nationally); and foreclosure auctions made up 3.1 percent (1.1 percent nationally).

Overall, distressed sales continue to fall. The 12.7 percent national figure is down from 14.2 percent in the second quarter and down from 14.5 percent year-to-year. It’s the lowest level since RealtyTrac began tracking short sales and distressed sales combined in 2011.

Florida cities

In looking at all types of distressed sales, only two Florida cities make the top five list: Lakeland at No. 4 (26.1 percent of all sales) tied with No. 5 Jacksonville (26.1 percent). National cities at the top of the list include Las Vegas (34.9 percent), Stockton, Calif., (31.8 percent) and Modesto, Calif., (31.2 percent).

However, Florida cities, except for Las Vegas, had more short sales than any other U.S. city.

While 10.5 percent of Las Vegas sales in the third quarter were short sales, it’s followed by Lakeland (10.4 percent), Cape Coral (10.4 percent) Orlando (10 percent), Tampa (9.7 percent), Miami (9.2 percent), Palm Bay (9 percent), Jacksonville (8.4 percent) and Sarasota (8.2 percent).

Florida landed every top spot for sales at a public foreclosure auction.

Nationwide, auctions made up 1.1 percent of all sales in the third quarter, but top metro areas for auctions include Lakeland (4.9 percent), Miami (3.9 percent), Orlando (3.7 percent), Palm Bay-Melbourne-Titusville (3.5 percent) and Tampa (3.4 percent).

While 10.7 percent of Florida’s third-quarter distressed sales were REOs, however, no state city made RealtyTrac’s top list, which was dominated by California cities and Phoenix.

© 2014 Florida Realtors®