For the first time in 2009, new foreclosure filings fell in the third quarter for Lee and Collier counties in Southwest Florida. In fact, in September new foreclosure filings reached their lowest level of the year.
For Lee County, there were 13,206 new filings from July to September, down 5.19% from the second quarter and 2.19% below the third quarter of 2008. In September, there were 1,584 filings for the month, down from 1,625 in August and 2,447 a year ago.
In Collier County, there were 2,997 new filings, down 15.65% from the second quarter and 4.49% below the third quarter of 2008. In September, there were 1,068 filings for the month, down from 1,138 in August and 1,310 a year ago.
The numbers are quite a change from the last year as far as filings are concerned and while one quarter’s data does not make a trend, it is hopefully a good sign of things to come. Looking at October’s filings, we see a split between the two counties numbers. New filings were down 20% in Lee County but were up 11% in Collier County.
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Naturally, no one can predict for certain, what will happen as we move forward into November and December. Many forecasters continue to say it will be doom and gloom. However, with a little luck, things will continue to improve. As is usual, only time will tell the tale.
Gulf Coast Associates, Realtors specializes in upscale Florida real estate in and around Cape Coral, Ft. Myers and Naples. Call us today at 888-617-3674.
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6 users commented in " Southwest Florida Foreclosure Filings Fall in Third Quarter 2009 "
Follow-up RSS Comments Feed or Leave a TrackbackYour last two posts are encouraging and I hope that is a sign of better things in other areas. I know a lot of people aren’t buying because they can’t sell. Maybe the improvement in Florida’s market will help in other places.
Hey Sam,
I’ve been saying that all year as things have steadily improved here.
The Florida market helped lead us into the mess and I was hoping it would lead us out.
As I talk to other friends in the industry around the country, it has not happenend for many of there markets yet.
Maybe with a little luck, we’ll see a broader change as we head into 2010. At least I sure hope so for their sakes.
For one of the hardest hit markets in the country, this is a GREAT sign. If Florida can start to rebound, that shows we are on the right path. Hopefully your trend continues, as I think it will directly relate to other markets around the nation.
Thanks for showing all the detailed information in such a lovely blog. I appreciate your hard work compiling such useful information!!!
I will be monitoring your updates from time to time. Great job!
This is promising data…Anyone know which counties/specific cities in Florida suffered the largest declines since 2007?
Encouraging news indeed. Hopefully, you have seen an upturn in activity in January 2010. We feel that repossession figures are a key economic indicator and we watch them closely. We have some way to go in Spain but the signs so far this year are good.
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