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Foreclosure Filings Decreasing Nationwide

 
Foreclosure Filings Decreasing Nationwide
Posted May 15th, 2014 @ 4:00am

Florida is still struggling when it comes to foreclosure filings, but it's not all bad news.

Nationwide, we saw more than 115,000 properties facing foreclosure filings in the month of April according to RealtyTrac, which is a 1% decrease from the month before, and a 20% decrease from a year ago.

Still, South Florida saw about 7,000 properties file for foreclosure.

It's still a decrease from the previous month, but Realtytrac's Daren Blomquist says the silver lining here is it's mostly delayed foreclosures finally hitting the market.

"This actually could provide some additional inventory for buyers to purchase," adds Blomquist, "Because it's distressed inventory there's often an opportunity to get these properties at a lower price point."

Florida still ranks as the nation's highest foreclosure rate.

Check out the full report by clicking here.

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