California foreclosure sales decline year-over-year
Foreclosure sales in California declined 41.7 percent in July compared with
July 2011, but rose 10.4 percent compared with June 2012, ForeclosureRadar
recently reported. Notices of Default increased slightly in July (1.4
percent) compared with the previous month, but rose 12.3 percent compared with
the previous year.
ForeclosureRadar’s report says, “It is normal to see monthly
fluctuations in both directions on a month-to-month basis, thus it is critical
to look at the monthly trends over time to get a clear picture of the
foreclosure marketplace.”
"While we are as curious as anyone to see the direction
foreclosures are headed each month, it is important to keep things in context,”
stated Sean O'Toole, founder and CEO of ForeclosureRadar. “It is not unusual to
see the number of foreclosure filings or foreclosure sales go up or down 10
percent or more each month. Whether it's due to the length of the month,
holidays, or internal delays at a lender, trustee, or posting company, it is
completely normal to see fluctuations.”
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