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Stockton, Merced, Sacramento Still Rank High In Foreclosures



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(Sacramento, CA)
Thursday, September 16, 2010

A new top 10 list of foreclosure hot spots around the country is dominated by cities in Northern California.

"The highest one was Modesto at number 2, Stockton at number 3, Merced at number 6, and then Sacramento metro area was at number 10."

Daren Blomquist is an analyst with RealtyTrac. The real estate research firm released its August report today. Blomquist says the good news is that foreclosures are down from last year at this time.

"All of those cities that I just mentioned had decreasing foreclosure activity form a year ago. However, they started at such a high level that the foreclosure rate in those cities is still very high and there's still a lot of people who are losing their homes to foreclosure."

Blomquist expects foreclosure rates to fluctuate in California into next year as lenders continue to work through the inventory of repossessed homes.

 

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