Sacramento's sales rate for foreclosed homes has surpassed the sales rate for new homes as of October, with 18,491 units sold out of a total of 23,572 repossessed properties.
Homes and condos from foreclosure listings pushed down median home prices in Southern California, increasing sales of new and pre-owned homes and condos in March by 52 percent.
Housing analysts in the Bay Area are seeing some signs that home prices are nearing their bottom levels despite the continued growth of foreclosure listings in many areas in California.
California Governor Arnold Schwarzenegger has launched several proposals to help homeowners keep their homes, highlighting his planned 90-day suspension of foreclosures.
Prices of county homes dropped to all time low in the last six years while a considerable rebound in the number of home sales transactions was also observed.
The increase in foreclosures has allowed house sales in Southern California to escalate December of last year due to the cost reduction of condominiums and houses from the previous year.
Moving to San Diego? Now is the perfect time for you to purchase the home of your choice as median home prices are brought down by the growing number of foreclosures.
California house prices jumped up 14.3% in March, thanks to higher demand in up-market areas like San Francisco Bay - but the news is different elsewhere.
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