Home Front

A blog about the economy and the Sacramento-area real estate market.

March 13, 2008
How banks now rule in many real estate markets

One more tidbit from the DataQuick report Thursday on February home sales:
In many capital-area counties a huge percentage of the homes that closed escrow in February were sold to buyers by banks that repossessed them from others. Here is the percentage of existing homes sold in counties regionally and across California in February that a bank had repossessed since Jan. 2007:

Sacramento - 56.2 percent
Placer - 39.5 percent
El Dorado - 25.5 percent
Yolo - 31.9 percent
Yuba - 65.4 percent

Nevada - 13.9 percent
Amador - 26.7 percent

Elsewhere in inland California foreclosure zones:
Solano - 46 percent
Contra Costa - 40.4 percent
Riverside - 48.1 percent
San Bernardino - 44.5 percent

Southern California:
San Diego - 37.6 percent
Los Angeles - 26 percent

Bay Area:
Marin - 11.6 percent
San Francisco - 6.1 percent

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