According to RealtyTrac, 66,475 California properties received a foreclosure filing in October.
"That's the lowest monthly total we've seen in California actually going all the way back to November of 2008. So we did hit that milestone."
RealtyTrac's Daren Blomquist says October foreclosures were down nearly 12% from the previous month and 22% from October of last year.
Blomquist says statewide numbers have been on a downward trend for nearly a year as banks work through a backlog of foreclosed properties. But he says the decrease will likely slow as we head into the winter when foreclosures historically rise.
"It is the slow season for real estate so there are people who can't sell and may end up in foreclosure."
Despite posting month-over-month and year-over-year decreases in foreclosures, Modesto and Stockton remained among the top 5 metro areas in the country with the highest foreclosure rates.