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South Florida home prices jumped by double digits in October

South Florida home prices surged by double digits in October, as buyers competed for a tight supply of houses and condominiums.

October results, however, signaled a potential shift in the housing market as Miami-Dade County registered the first slowdown in sales of single-family homes since June 2012 and the first dip in year-over-year condo sales since September 2012, according to the Miami Association of Realtors.

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Florida Leads the Nation in Foreclosure Activity

Florida remained the No. 1 state for foreclosure activity in November, and Miami ranked No. 1 among large metropolitan areas, according to RealtyTrac.

Despite the ranking, Florida posted a 23-percent decline in foreclosure activity compared with November 2012. Foreclosure activity includes default notices, scheduled auctions and bank repossessions.

One of every 244 residences in Miami-Dade and one of every 400 residences in Broward received some type of foreclosure filing during November, RealtyTrac, an Irvine, Calif.-based data firm said.

That marked a 17.7 percent drop in foreclosure activity in Miami-Dade and a 16.3 percent decline in Broward compared with a year earlier.

 

 


Read more here: http://www.miamiherald.com/2013/12/11/3812662/florida-leads-the-nation-in-foreclosure.html#storylink=cpy

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