Foreclosure rate remains high in Florida despite decrease from 2014

Posted on 19 Mar 2015 in Miami What's New | 0 comments

forclosureFlorida sees third highest foreclosure rate in US: RealtyTrac

Florida’s foreclosure rate remains high — the third highest behind Maryland and Nevada — despite a 35 percent decrease in foreclosure activity from a year ago. One in every 570 units had a foreclosure filing.

Nationwide, foreclosures are down 4 percent from January and 9 percent from a year ago, the lowest since July 2006.

“Given that August 2006 was the peak of the housing bubble, this eight-and-a-half year low in foreclosure activity is a significant milestone and a sign that nationwide foreclosure activity is on track to return to historic norms this year — and is possibly even headed below historic norms given the skinny-jeans-tight lending standards over the past five years,” RealtyTrac vice president Daren Blomquist said in the press release.

Miami has fourth highest year-over-year increase in sales prices: RE/MAX National Housing Report

Median residential sales prices increased by more than 15 percent in Miami from February 2014 to February of this year. Detroit, Michigan; Manchester, New Jersey; and Trenton, New Jersey were ahead of South Florida.

Across the county, the median sales price has risen for 37 consecutive months, according to the report.

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