Foreclosures plunged in the tri-county area 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 4,358 in February 2013 to 1,175 last month. The region had 3,700 foreclosures during the first two months of 2014, way down from 8,825 during the same period in 2013.
In Miami-Dade, foreclosures dropped from 1,987 in February 2013 to 662 last month. The county’s year-to-date foreclosures fell from 3,894 to 1,373. Broward County’s year-over-year foreclosures declined from 1,481 to 690 last month, while its year-to-date foreclosures dropped from 3,126 to 1,477.
Palm Beach County had a similar decline, from 890 foreclosures in February 2013 to only 363 last month. The county’s year-to-date foreclosures dropped from 1,805 to 850. — Eric Kalis