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Year-End Numbers: California Foreclosures Drop

Posted on Thursday, January 12, 2012 3:22pm

New numbers out Thursday show home foreclosure filings fell in California last year. Research firm RealtyTrac says 428-thousand California properties got a foreclosure notice during 2011.

RealtyTrac’s Daren Blomquist says the number is, “down 22% from 2010 and it’s down actually 32% from 2009 when we saw the peak foreclosure activity in California.”

The firm attributes the decline to legal issues plaguing the foreclosure industry, which led to delays in the foreclosure process.

“Things look a little bit rosier than they actually are in California,” said Blomquist.  “Many of the foreclosures that we would’ve seen under normal circumstances show up in 2011 are going to show up in 2012.”

California posted the nation’s third highest foreclosure rate for all of 2011…behind Nevada and Arizona.

One in every 31 California housing units had at least one foreclosure filing during the year.

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