SW Florida foreclosures continue to decline

The Cape Coral-Fort Myers area always garners headlines about being one of the worst places in the country for foreclosures.

But foreclosures continued to decline in November as they have for most of this year. According to figures compiled by the Southwest Florida Real Estate Investors Association, the 1,404 foreclosures filed in Lee County in November represented a 16% drop from the same month last year. The November figure is also a 14% drop from the October data, though that may have been affected by the holidays.

While the number of foreclosures continues to fall, the association says it has noticed an increase in larger properties in foreclosure. That likely reflects the growing challenges in commercial real estate.