California Home Foreclosure Notices Drop 24%
California home foreclosures
MDA DataQuick reported today that nearly 85,000 mortgage default notices were filed from October through December 2009. That’s down 24 percent from nearly 112,000 during the previous three-month period. However, it’s still up 12 percent from about 75,000 during the same period of 2008.
Default notices are climbing in mid- and high-end neighborhoods, as homeowners who were able to make payments longer than those in entry-level markets, feel the results of the recession and job losses, said MDA DataQuick president John Walsh.
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With the dollar strengthening, I see this as a good sign. It may help interest rates to subside a bit. BUT, we have so far to go to get back to anything like a normal market.
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