Posted on Tuesday, 08.11.2009

Foreclosures in Miami - Miami Beach Real Estate

Where we are in terms of residential foreclosures in Miami is unclear, certainly there have been a significant amount in the past two years and there are some sign that the number of foreclosures in Miami may be leveling off. The foreclosure filings in 2009 decreased in March from its highest level of 7,103, to 6,510 in April and 4,274 in May 2009. The decline in foreclosure case filings during the past two months is a positive sign.
 
It should be noted that, governments at the national and local level are taking important steps in terms of foreclosure prevention programs (see makinghomeaffordable.gov and miamidade.gov/foreclosure/). However, on the other side of the equation there were about 166,000 Miami homes purchased between January 2005 and December 2006 at the height of the boom.

Foreclosures in Miami Dade
September 2008 to May 2009