Foreclosures.com reported 1,235 homes in the four-county region went back to lenders or sold as part of third-party sales in June, much lower than the almost 1,900 in June 2009 — and about 250 less than May. Now, part of the decline in foreclosures is contributed to an anomaly — JP Morgan Chase, which bought Washington Mutual last year — canceled its foreclosure sales in June. In another report, home prices in the region increased a modest 1 percent compared to last year.
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Business Journal: Big Drop in Foreclosures Last Month
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By
Ron Trujillo
Foreclosures dropped dramatically last month in the Sacramento region, the latest evidence that the hard-hit housing market could be on the road to recovery.
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Wednesday, July 14, 2010