The Miami Herald last week featured an article on a report that shows some encouraging news for the property market in the region. From the month of May to June, the number of properties being filed for foreclosure in southeast Florida fell by a rather staggering 50%, on average; specific figures for the local counties are 40% in Dade and 60% for Broward. Meanwhile, across the United States, the number of foreclosures for the same period fell by 19%.
What these findings actually mean is difficult to say as the newspaper points out; such a drop is encouraging but many other factors to do with foreclosures or properties taken over by banks and then sold on need to be considered as well.
It really seems to be a case of wait and see. This news may be good, but let's see what happens next.
Article: South Florida foreclosure filings fall by half (17th July 2009, Miami Herald)
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