The number of foreclosures filed in South Florida has dropped 49% in May compared to a year ago. Filings fell 55% in the Fort Lauderdale real estate market and 36% in Palm Beach. Showing positive signs of recovery for the Fort Lauderdale real estate market and Broward County as a whole.

Foreclosures nationwide will remain at a high level, though they appear to be leveling off. The National May statistics are due out in mid June.

While lenders appear to be working with more borrowers including those in the Fort Lauderdale real estate market. Some analysts aren’t convinced the worst is over; more foreclosures could be in the pipeline. Banks are being careful not to release them to the market all at once to prevent another price collapse.