CA Foreclosure Starts Fall to 8-Year Low

By: AP Email
By: AP Email

SAN DIEGO (AP) - A research firm says California home foreclosure starts slid to the lowest level in more than eight years during the second quarter, thanks to higher home values.

DataQuick said Thursday that there were 17,524 default notices filed from April to June, down 9 percent from the first quarter and down 32 percent from the second quarter of 2013. It is the lowest level since the fourth quarter of 2005.

Most home loans going into default originated from 2005 to 2007.

The housing rally has left fewer homeowners owing more money than their properties are worth. DataQuick reported Wednesday that California's median sales price for new and existing houses and condominiums reached $393,000 last month, the 28th straight annual increase and the highest level since December 2007.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 267546681 -
Gray Television, Inc.