What Are San Diego's Latest Foreclosure Numbers?

Is San Diego’s real estate market facing a flood of foreclosures? We’ve all been waiting for this massive wave of foreclosure and other distressed properties to hit the market for some time now. As of now we haven’t really seen this materialize and with the recent foreclosure dilemma the number of foreclosures on the market hasn’t changed much.

This doesn’t mean that banks don’t have foreclosed properties still on the books. They do have many but they’re not flooding the market as in recent times. The most recent figures do show some areas experiencing increases in the number of homes defaulting on their mortgages but we’re not seeing these homes coming onto the market at a very high rate of speed.

This more than likely due to banks knowledge gathered from their experience in dealing with an overwhelming number of foreclosures in the last couple of years. By controlling the pace at which the homes are released onto the market place banks are avoiding destabilizing the San Diego housing market which is showing some signs that the bottom has come and is now beginning to leave.

Having said this here’s a link to an interactive chart the Union Tribune has been publishing giving a look into what’s happening in San Diego’s real estate market with regards to foreclosures. Feel free to see what’s going on in your specific zip code in San Diego. https://spreadsheets.google.com/spreadsheet/lv?hl=en&key=tjhgjXcXYQLywsgNLeJsayA&hl=en&f=true&gid=0.

As always let us know if you have any question and we’ll be more than happy to answer them.