Defaults and foreclosures drop
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Foreclosures dropped significantly in the second quarter of 2012 — a good sign for the housing market. However, notice of default (NOD) filings decreased only slightly. The number of real estate owned property (REO) resales actually increased from the first quarter of 2012.
33,800 REO resales took place in the second quarter of 2012:
- · consisting of 28% of all California resale activity;
- · up 6% from the first quarter of 2012; and
- · down 14% from one year earlier.
54,615 NODs were recorded in California in the second quarter of 2012,
- · down 3% from 56,258 in the prior quarter; and
- · down 4% from 56,633 one year earlier.
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loading...About The Author
Carrie B. Reyes
is lead writer in charge of the Real Estate Practice and Due Diligence and Disclosures books.
Latest CommentsLeave a Reply
Very nice post, I am also associated with real estate, foreclosure Los Angeles County, California taxes and properties. I enjoy reading new stuff on this subject, and I hope you will be adding new and fantastic posts on property services. Thanks for writing such a wonderful post.
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