The second quarter of 2010 showed that foreclosures, including those sold at Los Angeles home auctions, account for a bigger percentage of housing sales in the state and the rest of the U.S.
Home prices improved as Los Angeles home auctions for sale in April declined. The median price in Los Angeles County rose by 9.8 percent over the year from $300,000 to $329,500 in April.
Los Angeles home auctions are being strategically delayed by lenders for various reasons. Lenders now are taking around 229 days to complete foreclosures, a sharp increase from the 146 days spent by lenders to foreclose in August 2008.
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