Miami, Orlando 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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