Darren Bloomquist is with the foreclosure research firm RealtyTrac…which released the numbers.
He says there was a deluge of foreclosures in March after the temporary moratorium on bank repossessions began to run out. That surge started to subside last month.
“And so it was somewhat expected. A lot of times when we see a huge spike like that the numbers will back down a little bit off of that. Even with the 10% decrease, this is one of the highest levels we’ve seen on a monthly basis in California.”
Merced had the third highest foreclosure rate in the country last month…with one-in-every-65 housing units receiving a foreclosure filing.
Modesto had the fourth highest, Stockton had the eighth…and Sacramento came in at number 14.