Housing distress drops in SoCal

Housing distress drops in SoCal

Distressed housing in Southern California declined to seven-year lows in the third quarter, DataQuick reported Tuesday. Overall foreclosures were down 18.1 percent from the second quarter to 4,009 and defaults were off 20.7 percent to 11,444.

Statewide, the foreclosure level was the lowest since the first quarter of 2006.

As previously reported, San Diego County’s counts in both categories for September were the lowest since 2007.

In California and other states, defaults and foreclosures have sometimes dropped temporarily when laws changed to require longer notification periods in the wake of the housing collapse that started in 2007, and they’ve bounced back up.

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