South Florida’s foreclosure rate drops in first quarter: report

Region posted 14th highest rate in nation

TRD MIAMI /
Apr.April 14, 2016 02:15 PM

South Florida continued to flush out its stockpile of foreclosures during the first quarter, according to a newly released report.

Of all the tri-county region’s home mortgages in the first quarter, a total of 9,603 — or about one in every 258 homes — were in some stage of foreclosure, according to the report from real estate research firm RealtyTrac.

Compared to the last quarter of 2015, that rate has fallen by a little over 15 percent. It’s dropped by an even larger 39 percent when stacked up against the first quarter of 2015.

Out of South Florida’s three counties, Miami-Dade has the most foreclosures with 4,244 homes — likely because it’s the largest real estate market. However, Broward was not far behind with 3,264 homes, and both were trailed by Palm Beach County with 2,095 homes in some stage of foreclosure.

Those figures make South Florida the country’s 14th largest metropolitan area in terms of foreclosures during the first quarter. Atlantic City, New Jersey, had the nation’s worst foreclosure rate with one in every 106 homes, followed by Trenton, New Jersey, with one in every 168.

“Despite a seasonal bump higher in March, foreclosure activity in most markets continues to trend lower and back toward more healthy, stable levels,” Daren Blomquist, senior vice president at RealtyTrac, wrote in the report.


Related Articles

arrow_forward_ios
Governor Ron DeSantis (Credit: Eva Marie Uzcategui/Getty Images)

Florida governor extends freeze on evictions, foreclosures

Florida governor extends freeze on evictions, foreclosures
From left: Roberto Blanch, Dennis Eisinger, Sebastian Jaramillo, and Paul Kaplan

South Florida HOAs and condo associations prepare for a drop in collections

South Florida HOAs and condo associations prepare for a drop in collections
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

SoFla prepares for flood of foreclosures and evictions after governor’s freeze

SoFla prepares for flood of foreclosures and evictions after governor’s freeze
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

Florida governor freezes evictions and foreclosures for 45 days

Florida governor freezes evictions and foreclosures for 45 days
Charles Cohen, Design Center of the Americas

DCOTA refinances, avoids foreclosure

DCOTA refinances, avoids foreclosure
Moses Bensusan and Costa Hollywood Resort (Credit: Wikipedia)

Embattled Costa Hollywood Resort files for bankruptcy

Embattled Costa Hollywood Resort files for bankruptcy
Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure
Lender files foreclosure suit to seize unsold units at new condo-hotel in Hollywood

Lender files foreclosure suit to seize unsold units at new condo-hotel in Hollywood

Lender files foreclosure suit to seize unsold units at new condo-hotel in Hollywood
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...