More evidence that foreclosures are down
Completed foreclosures were down slightly from a year ago in San Diego County
There were a total of 7,873 completed foreclosures in the county in the 12 months ending in June, according to CoreLogic’s National Foreclosure Report.
In addition, the number of homes in some state of foreclosure in San Diego County was down as roughly 2% of all homes with a mortgage were in some state of foreclosure.
Think about that for a moment. With all of the talk about foreclosures ruining the economy, only 2% of homes with a mortgage in San Diego County are in the foreclosure process. This means that 98% aren’t.
Because of this, we are starting to see that the available inventory is being comprised of homes with equity. This is a welcome sign, and a change from just a year ago.
Bryan & Allison Devore
Prudential California Realty
North San Diego County and Carlsbad Real Estate
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