Although median prices have not begun their rise, our projections show they will begin to increase before the year is out.
Mt. Pleasant, PA (PRWEB) September 25, 2009
Default Research (Default Research Inc), a premier provider of pre foreclosure listings, is reporting pre foreclosures on average decreased 15 percent from July 2009 to August 2009.
Cook County, Illinois, which encompasses the city of Chicago, saw foreclosure lawsuits drop by 30 percent, while Miami-Dade County, Florida, had less than a 1 percent decline in pre foreclosures over the past month. Los Angeles County, the nation's largest county, has seen pre foreclosure drop 17 percent from July 2009 and 37 percent from August 2008. Additionally, in California the number of Notice of Trustee Sales dropped while new Notices of Default makeup nearly 85 percent of Default Research's pre foreclosure listings for that state. For more detailed regional area pre foreclosure statistics listed by county, please visit foreclosure statistics .
Counties Monthly Change Yearly Change % of households
Los Angeles, CA -17.83% -37.05% -3.10%
Cook, IL -31.06% NA NA
Maricopa, AZ 2.44% -10.47% 4.62%
Orange, CA -16.00% -50.40% 3.19%
San Diego, CA -15.58% -56.52% 4.33%
Miami-Dade, FL -0.27% -23.46% 4.58%
Riverside, CA -40.99% -52.28% 9.02%
San Bernardino, CA -9.86% -50.55% 7.64%
"Confidence in the real estate markets is continuing to increase and inventories are continuing to decline in nearly all major metro regions" said Serdar Bankaci, founder of Default Research. "Although median prices have not begun their rise, our projections show they will begin to increase before the year is out."
Data collection methodology
Default Research's Metro Market Report™ is an accurate breakout of the number of unique pre foreclosure filings per county. Individual properties are only counted once during the prior twelve month period, thus making the statistics more precise as opposed to counting each property every month. The report contains aggregations of notice of default, lis pendens, and notice of trustee recordings from seven of the ten largest counties in the nation.
More about Default Research
Since 2004, Default Research has been providing the freshest and most accurate pre foreclosure listings and statistics to real estate professionals and investors. Default Research's proven data collection and most efficient distribution methods result in pre foreclosure lists being available two to three weeks ahead of the competition. Based on extensive research about the continuing foreclosure crisis and the most effected regions, Default Research currently abstracts and reports data in these six critical states highest in foreclosures: Arizona, California, Florida, Illinois, Michigan, and Nevada. Default Research reports pre foreclosure documents days after being recorded. More information about Default Research can be found at its Web site: http://www.defaultresearch.com.
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