South Florida housing market observers have something else to celebrate this holiday season: foreclosures are dropping throughout the region.
The latest report from CoreLogic shows fewer homeowners in South Florida are at risk of losing their houses, South Florida Business Journal reported. CoreLogic calculates the percentage of delinquent loans or mortgages in any stage of foreclosure.
Miami-Dade County’s foreclosure rate was at 9.2 percent in October, down from 15.1 percent in October 2012. Broward County’s foreclosure rate dropped from about 12 percent to 8.1 percent during the same span. Palm Beach County also had a substantial year-over-year decline in its foreclosure rate from 10.9 percent to 6.9 percent. [South Florida Business Journal] — Eric Kalis