Industry NewsMarkets & Economy

Foreclosures account for one in three California resales

Default notices up 143% from a year ago
Published on Apr 23, 2008

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by CareyBot

Sales of foreclosed properties accounted for one in three of existing-home sales in California during the first quarter, compared with 3.2 percent a year ago, according to data aggregator DataQuick Information Systems.

Foreclosure resales varied "significantly" by area, DataQuick said, from 5.1 percent of sales in San Francisco County to 66.7 percent in San Joaquin County.