More than 21,800 homes were repossessed in California during the
second-quarter…down 48.5% from the same period last year.
"We haven't seen numbers this low since the second-quarter
Andrew LePage is with DataQuick, the San Diego-based real
estate information service that released the numbers.
A little more than 54,600 homes got a "notice of default," the
first step in the foreclosure process, between April and June. That
was down 3.6% from the second-quarter of 2011.
LePage attributes the declines to several things:
"The economy's gotten a little better, hiring's picked up
a little bit in the state and because of that there's just less
distress out there caused by layoffs and declines in household
LePage says foreclosures accounted for 27.9% of all California
re-sale activity last quarter…down about 5% from the previous