South Florida counties report significant declines in distressed home sales in 2013.
Palm Beach County's residential sector had just under 3,600 short sales or foreclosure transactions in 2013, accounting for 23 percent of the county's single-family home sales. These sales represented 29 percent of the county's transactions in 2012. For condos, 20 percent of sales involved a distressed loan in 2013, down from 24 percent the previous year.
Broward County reported 4,640 short sales and foreclosure transactions last year, representing 31 percent of all single-family purchases. This is down from the 43 percent of the sector's transactions that were reported for 2012.