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Foreclosures continue to fall in Miami

Metro foreclosures still outrank state, national averages

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According to the Miami Herald, foreclosure activity in the city remained high when compared to both state and national averages during the third quarter of 2013. However, foreclosure activity in the Miami metro area declined in the third quarter when contrasted with year ago levels.

One of every 95 residences in greater Miami received some type of foreclosure filing, RealtyTrac said. That compared with one out of every 126 homes in Florida and one of every 348 residences nationally experiencing such activity, the firm said.

Nationally, foreclosure starts in the third quarter were at a seven-year low. Across Florida, foreclosure activity declined 7 percent from the prior quarter and 8 percent from a year earlier.

The metropolitan Fort Lauderdale area bucked the trend, with foreclosure activity rising 3.8 percent from a year earlier and 11.6 percent from the second quarter, RealtyTrac said.

Source: Miami Herald
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