Sacramento Real Estate Views

Sacramento County Foreclosure Report – June 2009

1.5 Million Foreclosures So Far

I know it’s stating the absolute obvious but 2009 has not been a good year for homeowners.  The statistics on foreclosures is staggering.  1 in every 84 homes nationwide is in some stage of the foreclosure process.  Since April in our region, properties in some stage of foreclosure increased over 23%, 14% over the previous 6 months and 15% over the same time period last year according to RealtyTrac.com.

My mind has difficulty comprehending this.  This seems like an absolute collapse of the housing system in our country.

1 In Every 84 Homes!

In California, it’s especially bad.  1 in every 34 homes received a filing and our state had the fourth highest number of foreclosures nationwide.

With our current unemployment rate at 11.1% projecting to 13% by next year and state layoffs looking like they will increase, our region is in for a rough ride over the next couple of years.

Upside down?

The future risk are those homeowners who owe significantly more than their home is worth.  Not being able to see the light at the end of the tunnel, many may choose to walk and start over.  All experts agree that what has been to help struggling homeowners is not enough and stemming the tide of  foreclosures is critical to the health of the nation.

June Sacramento County Foreclosure Statistics

Foreclosures have increased approximately 23% since April, my last foreclosure report, to June.  The following is a list of cities in Sacramento County with 100 or more foreclosures in June:

Sacramento – 3239

Elk Grove – 841

Citrus Heights – 349

Antelope – 236

Rancho Cordova – 229

North Highlands – 175

Galt – 150

Folsom – 134

Carmichael – 129

Fair Oaks – 99

The picture seems to get more bleak for housing although the economy seems to be improving.  Housing, in time, will also improve.  But how long will it take is anyone’s guess. (sometimes I get tired of repeating myself)

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This entry was posted on Friday, July 17th, 2009 at 12:39 pm and is filed under Foreclosure Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. investment realty said at December 3rd, 2011 at 4:30 am

   investment realty…

   [...]Sacramento Foreclosure Statistics | Sacramento, Rocklin & Roseville Real Estate Views | Sacramento, Rocklin & Roseville Homes[...]…

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