Foreclosure’s now 10% of O.C. home transactions

The
chart above compares DataQuick’s monthly foreclosure counts back to 1992 vs. the
total number of homes that changed ownership in a month. (This divisor is the
sum of the actual sales reported each month plus the count of homes that bankers
took back through formal foreclosure.) This bit of research shows that
foreclosures are now 10 percent of the market — the first time that mark’s been
passed since 1998. Clearly, without a significant pick up in traditional sales
activity, troubled homeowners will soon become a major marketplace burden.

By Jon Lansner
Orange County Register

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