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 3,871 in May 2013 to 1,511 last month. The region had 8,712 foreclosures during the first five months of 2014, way down from 21,016 during the same period in 2013.
In Miami-Dade, foreclosures dropped from 1,347 in May 2013 to 506 last month. The county’s year-to-date foreclosures fell from 8,243 to 3,081. Broward County’s year-over-year foreclosures declined from 1,643 to 632 last month, while its year-to-date foreclosures dropped from 8,229 to 3,587.
Palm Beach County had a smaller decline, from 881 foreclosures in May 2013 to only 373 last month. The county’s year-to-date foreclosures dropped from 4,544 to 2,044. — Eric Kalis