Buying Foreclosures Selling

Home Foreclosures Expected to Continue in 2010

The good news is that sales on existing homes, both single family and condos, continue to increase and inventories are decreasing in Miami-Dade county.

The bad news is in the foreclosure numbers for 2009.  The numbers include all properties that are in some stage of the foreclosure process.

  • Palm Beach County – 30,870
  • Broward County – 69,633
  • Miami-Dade County – 72,391
  • Monroe County – 1,275

Since the unemployment rate is so high in Florida, foreclosures are expected to continue to add to inventories on the market in 2010.  Miami-Dade’s new on-line foreclosure program and the government’s Home Affordable Refinance Program should help keep the foreclosure rate lower than 2009’s.