News, insight and some thoughts about the Sacramento-area real estate market

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April 22, 2008

California sets foreclosure record in first quarter

This just in: 47,171 California foreclosures in January, Feburary and March.
DataQuick Information Systems says that is a record.
It is also triple the previous peak during the 1990s downturn - 15,418 in the third quarter of 1996.

The eight-county capital region - Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties - showed 9,505 defaults during Jan., Feb. and March. All told, this region has seen about 34,000 home loan defaults since the beginning of 2007 - and we are guessing about 15,000 foreclosures.

That number is still to come from DataQuick. We will be online with it when we get it.