The Real Deal Miami

Rate of foreclosures falls in Miami

May 29, 2012 10:30AM

While data has shown continued increases in the number of foreclosure filings, a new report finds that the rate of Miami-area foreclosures is falling. The rate of foreclosures among outstanding mortgage loans in the Miami-Miami Beach-Kendall area fell to 17.5 percent in March, compared to the same period in 2011, according to CoreLogic. That represented a reduction of 1.56 percentage points from the previous year, when the rate was 19.06 percent. It was an increase, however, from February, when the foreclosure rate was 17.47 percent. — Alexander Britell