The Real Deal Miami

Foreclosure filings drop 49 whi

July 06, 2010 12:45PM

South Florida saw 49 percent fewer foreclosure filings in the second quarter of the year compared to the same time period in 2009, according to real estate consultancy and brokerage Condo Vultures Realty. The tri-county region saw 14,500 foreclosure actions initiated, down from the 28,400 filings seen during the same quarter a year earlier. The second-quarter filings bring the year-to-date total in South Florida to 34,500, down sharply from 2009’s six-month total of 52,200. The data is encouraging, said Peter Zalewski, a principal with Condo Vultures. “As high as the current number seems, the pace is down significantly from recent years,” Zalewski said. TRD