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Charting the monthly foreclosure filings in South Florida
It looks like we have the February data in for all three South Florida counties. Unless some new ones are added, here is how the trend is looking:
There were 5,833 new foreclosure actions filed through Miami-Dade, Broward and Palm Beach County in the month of February. That is a noticeable drop from 7,870 in January for the tri-county area, as illustrated in the chart above. One month does not make a trend, so we usually look at the average monthly filings:
- In 2012, the monthly average was 4,053
- In 2013, the monthly average was 6,861
- So far in 2014 (2 months) , the monthly average is 6,852
As for Miami-Dade County, there were 1,679 new forelcosure actions filed on single-family homes and 1,006 in the condo/townhouse segment, for a total of 2,865 new residential filings in February. This is what the Miami-Dade chart of monthly filings looks like:
The average monthly filings for Miami-Dade County are as follows:
- In 2012, the monthly average was 1,807
- In 2013, the monthly average was 3,399
- So far in 2014, the monthly average is 3,143
Now, we will cruise up the road to Broward, where there were 1,378 new foreclosure actions filed in the single-family home market and 402 new filings in the condo/townhouse market for a total of 1,780 new residential filings in February.
The average monthly filings for Broward County are as follows:
- In 2012, the monthly average was 1,332
- In 2013, the monthly average was 2,182
- So far in 2014, the monthly average is 2,197
As for Palm Beach County, there was a total of 1,368 new residential foreclosure filings in February, with 1,118 in the single-family home market and 250 in the condo/townhouse market.
The average monthly filings for Palm Beach County are as follows:
- In 2012, the average monthly filings were 914
- In 2013, the average monthly filings were 1,279
- So far in 2014, the monthly average is 1,512