Business & Real Estate

California foreclosure activity declines; bank repossessions surge nationally

California’s year-over-year foreclosure activity – default notices, scheduled auctions and bank repossessions – saw a nearly 10 percent year-over-year decline in July, according to Irvine-based RealtyTrac.

RealtyTrac said 11,938 California properties had foreclosure filings in July, which was actually up about 2.2 percent from June. Analysts attributed the monthly increase to a recent surge in bank repossessions, 3,061 statewide in July. RealtyTrac noted that repossessions increased year-over-year in 44 states.