Foreclosures Still At High Levels

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(Sacramento, CA)
Wednesday, May 13, 2009

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.