|March 22, 2023|
California still ranks high in foreclosures
Foreclosures still account for a hefty number of homes for sale in California, about 30 percent. But the rate is down about 12 percent from this time last year.
RealtyTrac’s Daren Blomquist said “There are positive signs it’s getting better than worse. But, there’s still a ways to go before the market absorbs all the distresses created the past few years.”
Homes in foreclosure or owned by banks sold at an average price that was 32 percent lower than the average price of a home not in foreclosure during the third quarter of this year.
Story Date: December 11, 2012