Real Estate News

Foreclosure rate falls in South Florida

A foreclosed home on Southwest190th Place in Homestead on Friday, July 17, 2015.
A foreclosed home on Southwest190th Place in Homestead on Friday, July 17, 2015. MIAMI HERALD STAFF

The foreclosure rates in Miami-Dade and Broward counties both fell in June, continuing a long-time trend since the housing market started to bounce back in 2012.

In Miami-Dade, the percentage of homes in foreclosure dropped to 3.6 percent in June, down from 3.71 percent in May and 6.29 percent in June 2014, according to a report from property analytics firm CoreLogic.

In Broward, the foreclosure rate fell to 3.22 percent in June, down from 3.37 percent in May and 5.91 percent in June 2014, CoreLogic found.

South Florida’s housing market was hammered during the recession and local foreclosure rates are still higher than those in Florida as a whole (2.79 percent) and the U.S. (1.28 percent).

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