Miami Homes, Miami real estate

Slightly fewer Miami Homes 'underwater'

Almost half of all owners of single-family Miami homes and homes in the Fort Lauderdale metropolitan area were valued for less than the mortgages owed against them.

At the end of September, 46% of homeowners, representing 387,157 Miami homes, were underwater, compared to 47% in the second quarter, according to a new report from a Web-based Miami real estate service, Zillow.

Nationally, 21% of homeowners were underwater as of September 30, down from 23% in the second quarter, as home values stabilized in the short term and more underwater borrowers lost their homes to foreclosure, Zillow said.

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