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
Foreclosures Account for More than Half of Bay Area Resales
Foreclosed properties accounted for more than half of all Bay Area resales during December, a first, according to real estate information provider DataQuick.
That’s up from 46.8 percent in November and 14 percent a year ago. As a result, home sales increased 19.7 percent from November and 36 percent from December 2007.
A total of 6,889 new and resale homes and condos sold in nine counties last month, Read more
SoCal Home Sales Surge Thanks to Distressed Resales
A total of 19,926 new and resale homes and condos sold in the Southland last month, a 19.2 percent increase from November and more than double the number sold during the same period a year earlier, DataQuick reported.
In hard-hit Riverside County, resales nearly tripled from a year ago, with just under 70 percent previously foreclosed on.
Conversely, home sales in Southland metro and prestigious coastal Read more