Charting data is a very helpful way to determine the direction of various asset classes.  Fund managers and investors chart stock and bond patterns and you can apply the same research to the housing market.  With the first half of 2013 in the bag, let’s see what the South Florida foreclosure picture looks like.

There have been significant increases in foreclosure filings in all three counties.  This first chart clearly shows that the foreclosure train is just getting moving again after a 2-year sabbatical due to the robo-signing litigation.  Now, we will look at each of the three counties and breakdown the numbers by single-family homes and condo/townhouse properties.

Well, it looks like the banks are aggressively pursuing delinquent borrowers in Miami-Dade County.  Just a quick summary:

• The 2012 monthly average for new single-family and condo/townhouse foreclosure filings was 1,807
• So far in 2013 the monthly average for new single-family and condo/townhouse foreclosure filings is 3,926
• Percentage-wise, the year over year increase in new filings represents a jaw-dropping 117%
• April, May and June 2013 all had well-over 4,000 new foreclosure filings

Now we will move on to Broward County, where there has been a steady flow of new foreclosure filings.

January started the year out with a sharp increase and here are a few stats for Broward County, Florida:

• The 2012 monthly average for new single-family and condo/townhouse foreclosure filings was 1,332
• So far in 2013, the average for new single-family and condo/townhouse foreclosure filings is 2,025
• Percentage-wise, the year over year increase in new filings is a whopping 52%

Now let’s take a look at Palm Beach County, Florida where the foreclosure machine started out strong in January 2013, took a break and now looks like it is full steam ahead!

• The 2012 monthly average for new single-family and condo/townhouse foreclosure filings was 914
• So far in 2013, the average for new single-family and condo/townhouse foreclosure filings is 1,479
• Percentage-wise, the year over year increase in new filings is 62%
• New foreclosure filings basically doubled from May to June 2013

In summary, don’t get too excited about a “housing recovery” in South Florida for quite awhile.  Although on the surface the low inventory levels and temporary price increases paint a pretty picture, the level of new foreclosure filings and existing shadow inventory of foreclosures paint another picture.