Saturday, May 25, 2013

Foreclosures Decline Further

In what is probably the ultimate acknowledgement that the foreclosure crisis is largely behind us, the web site ForeclosureRadar has changed its name to PropertyRadar.

Their latest report of foreclosure filings in San Francisco for emphasis:

Foreclosure Filings

This has been a trend in San Francisco for some months now.  But, statewide, the same thing is happening:

In April distressed-property sales fell 39.4 percent year-over-year.  In contrast, non-distressed sales increased by 36.6 percent year-over-year.  While the year-over-year increase in April non-distressed sales was impressive, the gain was not enough to push overall market activity higher.  Distressed sales have been declining steadily as a percentage of total sales since the beginning of 2012.  In January 2012 distressed sales were 61.6 percent of total sales and ended the year at 44.8 percent of sales.  In April 2013, distressed sales were 34.2 percent of total sales, down from 36.6 percent in March.   Over the same time period, non-distressed sales started 2012 at 38.4 percent of total sales and ended the year at 55.2 percent of total sales.  In April 2013, non-distressed sales were 65.8 percent of total sales, up from 63.4 percent in March.

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