Thanks to daytrip for sending in this article about banks foreclosing on 11% more homes in May than in April:
They haven’t got the memo yet in San Diego though – there was a 6.6% drop in new filings, month-over-month:
How is the “distressed” market, compared to previous years?
Here are the number of listings of SD County attached and detached homes from Jan 1 to May 31:
The REO listings are down 64%, and short-sale listings have dropped 53%, compared to last year. The banks are doing everything they can to keep people in their homes, so the “distressed” markets should quiet down further.