New foreclosure filings increased in November for single family and condo/townhouse properties. Single family filings increased 8 percent in November and new filings on condo / townhouse properties were up over 11 percent. Take a look at the chart of Broward County foreclosure filings.
I guess we will have to wait until the December 2012 comes in, but it certainly appears that new foreclosure filings will remain elevated for quite some time. When we combine the single family and condo/townhouse properties, there were 1,295 new foreclosure filings in November 2012.
Finally, if you are curious as to where all of these properties in foreclosure are located, we have detailed the list of Broward County cities below. The grand total as of 12/20/12 was 33,869 single family homes and 12,227 condo/townhouse properties in some stage of foreclosure in Broward County, for a grand total of 46,096. Here is where they are located:
The Broward County cities with the highest level of properties in foreclosure are:
- Fort Lauderdale – 3,879 single family and 1,052 condo/townhouse properties in foreclosure
- Miramar – 4,332 single family and 810 condo/townhouse properties in foreclosure
- Hollywood – 3,113 single family and 997 condo/townhouse properties in foreclosure
- Pembroke Pines – 3,783 single family and 829 condo/townhouse properties in foreclosure
- Pompano – 2,064 single family and 1,018 condo/townhouse properties in foreclosure
- Coral Springs – 2,219 single family and 1,110 condo/townhouse properties in foreclosure
These are just the cities with a high level of properties in foreclosure. Most of the cities in Broward County have experienced a gradual increase in foreclosure filings. The South Florida housing market will not be able to have a sustainable recovery until we see a drop in the number of properties in foreclosure and a drop in the new foreclosure filings.