05 Nov

Miami-Dade Foreclosure Rates Continue Falling

(The Real Deal) Miami-Dade County saw another month of shrinking foreclosure rates during August, according to a new report from CoreLogic. The analytics company reported a 2.19 percent decrease in foreclosures in August, compared to the same month last year. The county’s rate now stands at roughly 3.5 percent.

As the nation’s housing economy regains its strength, foreclosures are flushed from the market. Data shows that Miami-Dade’s foreclosure rate has fallen by a fraction of a percent each month since January 2014. On top of those falling rates, the region’s share of delinquent mortgages — home loans with an outstanding balance past a certain amount of time — has also decreased significantly. Nearly 8 percent of the county’s home loans were delinquent in August, down from 11.7 percent the year before. Like foreclosures, that percentage has fallen consistently since January 2014.

(November 5, 2015)

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