Foreclosure Rates Falling Fast in South Florida

Written by Allison Slusher

The rate of foreclosures in the counties of Broward and Miami-Dade were lowered in June, which is consistent with years past, when the market began to increase beginning in 2012. Foreclosed homes in Miami-Dade county decreased to 3.5% at the end of June, decreased from 3.71% in May and 6.29 percent in mid 2014, says a property analyst report. The rate of foreclosures fell to 3.2 % in Broward County in the middle of this year, decreased from 3.4% in May and 5.9% in mid 2014, according to the report. The housing market in south Florida was hurt badly throughout the recession, and county-wide foreclosure rates continue to be larger than in the whole of Florida (2.7%) and the U.S. (1.3%).