Real Estate News

Miami-Dade foreclosure rate fell in March

A “for sale” sign lays on the ground in front of a foreclosed home in Homestead in 2009.
A “for sale” sign lays on the ground in front of a foreclosed home in Homestead in 2009. AP

Miami-Dade County’s foreclosure rate fell again in March as the aftershocks of the housing crisis continue to fade away.

The percentage of local homes in foreclosure dropped to 4.05 percent in March 2015, down from 4.2 percent in February 2015 and 7.4 percent in March 2014, according to a monthly report released Wednesday by the property analytics firm CoreLogic.

But the foreclosure rate in Miami-Dade, which was one of the nation’s hardest-hit housing markets during the recession, still stands higher than the rate in Florida and the rest of the country.

Florida’s foreclosure rate was 3.23 in March 2015, down from 5.77 in March 2014. The national foreclosure rate fell to 1.39 percent in March 2015, down from 1.86 percent last year.

Broward County’s foreclosure rate declined from 6.77 percent in March 2014 to 3.78 percent in March 2015.

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