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

April 8, 2010
Sacramento ranks third for distressed sale market share

The four-county Sacramento region ranks third nationally behind Riverside-San Bernardino and Las Vegas for the share of distress sales in its real estate market, data tracker First American CoreLogic reported Thursday.

The firm said 58 percent of January sales in Sacramento, Yolo, Placer and El Dorado counties were foreclosure properties or short sales, in which the bank takes less than owed. Distress sales were 62 percent of sales in Riverside and San Bernardino counties, and 59 percent in Las Vegas.

Such sales represent a negative influence on home prices, First American said.

But the good news: distressed sales share fell more than 10 percent the past year, the firm reported.

The Sacramento region ranked second behind San Diego for short sales market share. They were 19 percent of San Diego sales in January and 18 percent in Sacramento.

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