A report by RealtyTrac shows that foreclosure filings, including notices of default, scheduled foreclosure auctions, and bank repossessions, decreased nearly 8 percent in November compared with the previous month, but were 18 percent higher compared with a year ago.
California posted the nation’s third highest foreclosure rate, with one in every 180 housing units receiving a foreclosure filing in November. Despite a 13-percent decrease in foreclosure activity from the previous month, California continued to post the highest total of any state, with 73,995 properties receiving a foreclosure filing in November. Foreclosures in California rose 22 percent from November 2008, but were down nearly 32 percent from a July peak of 108,104. November marked the fourth consecutive month that California foreclosure activity has declined on a month-over-month basis.
California also had the top three metro foreclosure rates: Merced, with one in every 83 housing units receiving a foreclosure filing in November; Stockton, with one in every 85 housing units; and Modesto, with one in every 87 housing units.
Other California metro areas with foreclosure rates in the top 10 included: Riverside-San Bernardino-Ontario at no. 6, with one in every 102 housing units; Bakersfield at no. 7, with one in 111; Vallejo-Fairfield at no. 9, with one in 126; and Sacramento-Arden-Arcade-Roseville at no. 10, with one in 132.