California Foreclosure Statistics
With Inland Empire foreclosures at pre-recession lows, Riverside County’s foreclosure rate dropped to No. 21 statewide in April. A total 1,403 mortgage default notices, auction sale notices and bank repossessions were recorded in April, meaning 1 in 566 households was in some stage of foreclosure, according to Irvine-based RealtyTrac.
Of those, 45 were from Palm Desert, according to data provided by the organization to Palm Desert Patch. In Palm Desert:
- One out of every 538 households received a foreclosure filing in April
- That number was down by about 25% from March 2013, and down 55% from last April.
- In April 2012, 100 households had been in default.
CoreLogic today released its March CoreLogic HPI report. Home prices nationwide, including distressed sales, increased 10.5% on a year-over-year basis in March 2013 compared to March 2012. This change represents the biggest year-over-year increase since March 2006 and the 13th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 1.9% in March 2013 compared to February 2013.
Hundreds of thousands of homes in the US are now labeled as “zombie” foreclosures. That’s when the owner of a foreclosed home leaves only to find out years later that he or she still legally owns the home and is on the hook for property taxes and other fees. Such cases occur in more than a third of foreclosures, industry figures show.
Home prices rose by 0.1% in September from the prior month and by 3.6% from one year ago, the largest gain in six years, according to a report released Monday by Lender Processing Services.
Sixty-five percent of U.S. housing markets are worse off today than they were four years ago according to the California-based real estate research firm RealtyTrac.
