California Dominates April Foreclosure Stats

According to an in-depth study by Realty Trac, Inc., foreclosure across the country have dropped significantly since this time last year. This should be good news for Californians too, right?

Not exactly. California is the state with the third-highest rate of foreclosure in the U.S. That’s nothing to be proud of, but considering our size and the depth of the Recession, it isn’t the end of the world. At least we’re doing better than Nevada and Arizona, right?

Yes and no. While overall state-wide numbers place California third, the percentage of foreclosures in particular metro areas is a different story. Truth to tell, California metro areas make up 7 of the top 10 worst cities for foreclosures.

Of those 7,  homes in Modesto, Stockton, and San BernardinoRiverside were most likely to fall into foreclosure.

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