California Home Price Boom Ending?

Foreclosures continued to decline in California in the second quarter, and smaller home price increases suggest that the state's "unprecedented price boom" of recent years may be ending, according to Foreclosures.com, Fair Oaks, Calif.Overall, 11,715 notices of default were filed in the second quarter, down from 13,363 in the first quarter, the company reported. Alexis McGee, president of Foreclosures.com, said home price appreciation is slowing in both Northern and Southern California. "For example, price appreciation in Orange County has slowed to 8.7%, the lowest rate of increase in more than five years," she said. The company can be found online at http://www.foreclosures.com.