The Real Deal Miami

South Florida foreclosures decline once again

Latest Condo Vultures report shows drop throughout tri-county area

August 04, 2014 10:30AM

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Latest foreclosure report from Condo Vultures

Latest foreclosure report from Condo Vultures

South Florida foreclosures continued to decline last month, according to the latest report from Condo Vultures.

Miami-Dade, Broward and Palm Beach counties had a substantial year-over-year decline in foreclosures, from 3,150 in July 2013 to 1,507 last month. The region had 11,785 foreclosures during the first seven months of 2014, way down from 27,959 during the same period in 2013.

In Miami-Dade, foreclosures dropped from 1,068 in July 2013 to 448 last month. The county’s year-to-date foreclosures fell from 10,423 to 4,014. Broward County’s year-over-year foreclosures declined from 1,536 to 693 last month, while its year-to-date foreclosures dropped from 11,656 to 4,997.

Palm Beach County had a smaller decline, from 546 foreclosures in July 2013 to only 366 last month. The county’s year-to-date foreclosures dropped from 5,880 to 2,774. — Eric Kalis

  • John Smith

    This is excellent news for the stabilization of the Florida real estate market as they are currently one of the states with the highest number of foreclosures.

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