A new report from foreclosure listing website RealtyTrac shows that Florida's foreclosure rate was almost twice the national rate in December 2011. Nationally, 1 in every 634 homeowners received a foreclosure notice in December. In Florida, that figure swelled to 1 in every 360 homeowners. This means that in December alone, a total of 24,576 Florida properties entered the foreclosure process.

Florida's most active cities in terms of Florida in terms of foreclosure rates were North Port at 1 in 151, Riverview at 150, Land O Lakes at 1 in 104 and Lehigh Acres at 1 in 96. Counties in the Gulf Coast also experienced high foreclosure rates in the state during December. Manatee County saw a foreclosure rate of 1 in 266 homes while Charlotte led the region with 1 out of every 212 home being served foreclosure notices.

Meanwhile, Collier County saw the lowest foreclosure rate in the state at 1 in 528 homes entering foreclosure, putting it nearly on par with the national rate. Most of its 358 total foreclosure notices were issued to properties in Naples.

The national foreclosure rate hit their lowest yearly level since 2007, but experts do not expect this downward trend to continue. RealtyTrac's CEO said that falling foreclosure rates are not necessarily signs of an improving economy or housing market. He explained, "Foreclosures were in full delay mode in 2011, resulting in a dramatic drop in foreclosure activity for the year." He added that the low figures may also be indicative of "dysfunctional" foreclosures processes that cannot efficiently handle delinquent mortgages.

Source: Gulf Coast Business Review, "Florida foreclosures outpace U.S.," Jan. 12, 2012