From HW:
Notice of default filings in California rose for the fourth-straight month in August climbing another 16.6%, according to ForeclosureRadar, which also began issuing data on foreclosure rates in four more states and unveiled new search functions on its web site.
In California, foreclosures are down 16.3% from a year earlier, and fewer homeowners found foreclosure relief as cancellations fell 11.2% and 15.6% more homes were lost in foreclosure sales, the firm said.
“Real estate markets are local, not national, and like other real estate trends foreclosure trends vary a great deal by location” said Sean O’Toole, ForeclosureRadar founder and chief executive.
(San Diego County’s one-year chart below)
Interesting.
I buy some stuff at the lower end – condos – and not much is coming up lately. Everything is getting postponed.
Maybe things are moving up the ladder.
IMHO, they are going to toy with us forever, starting more foreclosures one month, then holding off for a bit…dribbling them out very s-l-o-w-l-y until every buyer loses patience and just jumps into the market head-first.