Sixty Percent of California Resales Previously Foreclosed On
Last month, an estimated 29,458 new and resale homes and condos sold in California, according to DataQuick.
That’s down 22.1 percent from the 37,836 sales in December, but up 53.9 percent from the 19,145 sales seen a year earlier.
However, of the existing homes sold, 60.4 percent had been foreclosed on in the prior 12 months, more than double the 29.6 percent share seen a year earlier.
That Read more