DataQuick News recently released an article about the state of California’s foreclosure proceedings. It’s pretty detailed and full of tiny statistics, so we’ll break it down for you right here:
- though the number of foreclosure proceedings initiated rose overall, the number of foreclosures that actually went through (owners evicted, papers signed, etc) has dropped a bit
- the most foreclosures occurred in areas where real estate is most affordable – in particular Sutter, Merced, and Madera counties.
- foreclosures were least common in high-income counties like Marin, San Mateo, and San Francisco
- less expensive homes make up only 25% of California’s real estate supply, but they made up 40% of California’s foreclosures.
If you want more of the finer facts and figures, you can read the full article here. Enjoy.