Miami-Dade’s foreclosure rate continues downward spiral in June: report

At 2.39 percent, county's foreclosure rate is still more than double national level

TRD MIAMI /
Aug.August 24, 2016 01:30 PM

June marked yet another month for Miami-Dade County’s shrinking foreclosure rate, according to a new report.

CoreLogic, a real estate research firm, released a report Wednesday stating the county’s foreclosure rate had fallen 1.23 percentage points year-over-year to 2.39 percent in June.

Miami-Dade’s share of homes in some stage of foreclosure has steadily dropped over the past 12 months, excluding a fractional bump between November and December 2015.

However, the county’s foreclosure rate is still more than double the national level, which fell below 1 percent in June.

Delinquencies, the precursor to a foreclosure filing, were also down significantly in Miami-Dade. Roughly 6.36 percent of the county’s home mortgages were 90 days past due in June, down a little over 2 percent from the year before, according to the report.

While foreclosures and delinquences are improving in Miami-Dade, the county’s housing market as a whole has faced headwinds over the past year as home sales slow amid rising prices. Certain neighborhoods are already showing weakness, like downtown Miami’s condo market, which recently saw its first overall price decrease in five years. — Sean Stewart-Muniz


Related Articles

arrow_forward_ios
Miami-Dade still clearing out foreclosures in September: report

Miami-Dade still clearing out foreclosures in September: report

Condo sellers are struggling in Miami-Dade County: Miami Realtors

Condo sellers are struggling in Miami-Dade County: Miami Realtors

Foreclosures, be gone: Miami-Dade’s foreclosure rate shrinks again in August

Foreclosures, be gone: Miami-Dade’s foreclosure rate shrinks again in August

Even with blowout month, condos drag down Miami-Dade home sales in August

Even with blowout month, condos drag down Miami-Dade home sales in August

Miami-Dade home prices flat between May and June: report

Miami-Dade home prices flat between May and June: report

Foreclosures still falling in Miami-Dade during May

Foreclosures still falling in Miami-Dade during May

Miami-Dade home sales continue struggling through May: report

Miami-Dade home sales continue struggling through May: report

Miami-Dade foreclosures are drying up: report

Miami-Dade foreclosures are drying up: report

arrow_forward_ios