California Foreclosure Sales Fall to Lowest Level Since 2007

Published June 14, 2013, 4:37 p.m. EDT

1 Min Read

Sales of California homes and condominiums rose 8% in May from the prior month, according to DataQuick.

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The San Diego-based company reported 42,300 new and existing California homes were sold in May.

Sales in the Golden State are up just 1.2% from May 2012, but the mix of sales has changed considerably

In May, 11.4% of sales involved homes that had gone through foreclosure, compared to 28.5% a year ago. May foreclosure sales are the lowest since August 2007.

Short sales also are down year-over-year. An estimated 17.4% of May sales involved short sales compared to 23.7% a year ago.

DataQuick monitors real estate activity nationwide.

Brian Collins

Reporter

Brian Collins covers the housing and mortgage market, including the Federal Housing Administration and the Department of Housing and Urban... Read full bio

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