Foreclosure.com's Latest Quarterly Comparison Reveals California Foreclosure Market Continues To Improve

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Data analysis indicates “Golden State” had more than 22 percent fewer active distressed properties on its books in first quarter of New Year.

California foreclosure totals from fourth quarter 2012 and first quarter 2013 reveal that 22.58 percent fewer homes are in some stage of default.

Foreclosure.com analyzed data that compared active California foreclosure totals from fourth quarter 2012 and first quarter 2013, revealing that the “Golden State” had 22.58 percent fewer homes in some stage of default.

There were approximately 4,000 less active foreclosures in California from Jan. through March 2013 when compared to data collected between Oct. through Dec. 2012. That’s about 4,000 less active foreclosures than the approximate total from the most recent similar report (Q3 vs. Q4 2012), but still a larger percentage –nearly 15 percent -- of improvement.

Escondido eclipsed Milpitas as the city that improved the most statewide on a quarterly basis, reducing its inventory by more than 62 percent, while the amount of distressed homes in Redding, among the largest cities located in the Sacramento Valley, increased nearly 13 percent. Stockton, which declared bankruptcy in 2012 June and has been ravaged by foreclosures for years, continued to make significant strides with about a 38 percent improvement differential.

Here are the most (and least) improved cities in California (Q4 2012 vs. Q1 2013):

**Note: Only cities with a minimum of 50 active foreclosures in both quarters were analyzed**

Top 5 Cities

Escondido -62.50%
Menifee -51.92%
Chula Vista -49.43%
Garden Grove -49.18%
Oakland -46.22%

Worst 5 Cities

Redding +12.50%
Palm Springs +11.32%
San Bernardino +7.55%
Richmond +4.88%
Yucca Valley -1.35%

Foreclosure.com has also posted a helpful California foreclosures infographic that illustrates the data above – and more – in chart form at http://www.foreclosure.com/articlecenter/category/foreclosure-infographics.

ATTENTION EDITORS AND PRODUCERS:

For more information on California foreclosures, including the rankings of specific cities based on percentage of Q4 2012 vs. Q1 2013 improvement or otherwise, please contact Thomas Myers at (561) 988-9669 ext. 7381 or tmyers (at) foreclosure (dot) com.

About Foreclosure.com
With more than 2 million preforeclosure, short sale, foreclosure, Sheriff sale, foreclosure auction, bank repossessed (bankruptcy), HUD homes, foreclosed homes for rent to own and tax lien listings in one place, Foreclosure.com delivers America’s largest and most accurate searchable database of distressed real estate and investment property information. Based in Boca Raton, Fla., Foreclosure.com works directly with hundreds of top lending institutions and government agencies to list diverse property types on its website, as well as features listings from an extensive network of corporate sellers. As a result, the company has been recognized by high profile media outlets and prestigious non-profit industry groups alike as the number one rated distressed property listing resource available anywhere. Foreclosure.com offers much more than just real estate listings, connecting sellers, buyers and agents in one convenient location as a one-stop real estate marketplace.

On the Web:
http://www.Foreclosure.com

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Tom Myers
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