May Foreclosure Report for Broward County

In May of 2007 there were 1299 foreclosure actions filed. This May, the court reported that 3090 foreclosure actions filed.

Miami Dade county to the south and Palm Beach county to the north were reporting similar numbers.

Saint Lucie County is being hit harder than most counties in the state.

With all these foreclosures, the real estate market is being flooded with inventory that is driving down real estate prices by the week. According to one Realtor, "50 to 75 per cent of the houses I show are short sales or foreclosures." "These type of properties are in low end housing developments as well as million dollar neighborhoods as well," he added.

Real Estate Open Networkers