According to MDA DataQuick, a real estate analysis firm based in La Jolla, during the first half of this year, there were 5,458 notices of default in San Diego County and 3,315 foreclosures. The San Diego real estate default rate has dropped nearly 45 percent from last year!
A 45% decline in San Diego home foreclosures sounds good on the surface, but, one should be aware of the fact that the huge number of San Diego short sales was the main cause of the drop in foreclosures.
If one considers the number of San Diego short sales, the actual San Diego foreclosure rate has slid less than 6 percent.
