Foreclosures Drop in California
Real estate data firm Data Quick has recently released a statistical report on foreclosure in California. According to this report, California has experienced the lowest rate of foreclosure activity in the past five years. This report, with all time low foreclosure records, has put an end to all concerns that another wave of foreclosure may hit the economy of the c
ountry, reversing the recovery in the real estate market.
If this is accurate then the lenders must be cooperating with loan modifications more then we think they are.
So inventory levels are going to stay low? It looks like that is the case. Values will continue to increase in California if we do not see an increase in inventory.