Archive for June, 2013

April 2013 California Property Report

PropertyRadar’s California Property Report for April 2013 shows property sales continued their 12.9 percent year-over-year contraction, driven largely by a 39.4 percent decline in distressed property sales. The report credits the fall in distressed sales in part to reduced foreclosure activity as a result of 2012’s California Homeowner Bill of Rights and new foreclosure prevention guidelines issued by the Office of the Comptroller. Cash sales continued to be 29.3 percent of the market, a steep increase over numbers in the range of 6.2 to 8.4 percent seen in 2001-2007.

April 2013 Report on Overall U.S. Foreclosure Activity

RealtyTrac’s latest U.S. Foreclosure Market Report™ shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 144,790 U.S. properties in April, a decrease of 5 percent from the previous month and down 23 percent from April 2012. Total foreclosure activity in April was at the lowest level since February 2007, a 6-year low. One in every 905 U.S. housing units had a foreclosure filing during the month.