The Real Deal Miami

Foreclosures drop throughout South Florida

simi_valley_foreclosures-signSouth Florida housing market observers have something else to celebrate this holiday season: foreclosures are dropping throughout the region.

The latest report from CoreLogic shows fewer homeowners in South Florida are at risk of losing their houses, South Florida Business Journal reported. CoreLogic calculates the percentage of delinquent loans or mortgages in any stage of foreclosure.

Miami-Dade County’s foreclosure rate was at 9.2 percent in October, down from 15.1 percent in October 2012. Broward County’s foreclosure rate dropped from about 12 percent to 8.1 percent during the same span. Palm Beach County also had a substantial year-over-year decline in its foreclosure rate from 10.9 percent to 6.9 percent. [South Florida Business Journal]Eric Kalis

  • samre

    It is not necessarily that foreclosures are down it is just that banks are now choosing a different name for their foreclosures it is now called a SHORT SALE. Do you really think all those toxic loans were paid back??? Those home are still technically a foreclosure because the bank took a loss, they just figure if they do not start lending then they will have no buyers and the homeowners will be squatting.