Residential foreclosures declined in South Florida in September, but inched up in the third-quarter, according to RealtyTrac Inc.
While the numbers may continue fluctuating, the lengthy foreclosure crisis that crippled the region’s housing market has largely passed, said Daren Blomquist, a vice president of the foreclosure listings firm.
RealtyTrac’s report includes new cases, scheduled auctions and bank repossessions.
Broward County had 3,279 filings last month, a 22 percent decline from September 2012. Palm Beach County posted 1,798 filings, a 7 percent drop from a year earlier.
Statewide, September filings fell 22 percent from a year ago.
Third-quarter filings rose 4 percent in both Broward and Palm Beach counties.
A Florida law that took effect July 1 requires lenders to have paperwork in order before they file a case. That may have held down September filings.
“While there may be other factors, I think the new requirements that took effect July 1 are the biggest reason for our substantial decline in filings here,” Palm Beach County Clerk and Comptroller Sharon Bock said in a statement.
RealtyTrac: South Florida foreclosures fall in September
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