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?

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