While a few economists remain pessimistic about the housing recovery, the statistics seem to validate what the optimists are saying, “the recession is over.” Home prices and sales for April (the latest month available) are up. This is not just in Southern California, but throughout the state.
Home prices held steady with the statewide median price coming in at $255,000, a 5.4% jump from the April 2009 price bottom. A total of 37,481 houses and condominiums sold in April, up 0.5% from March. One of the most telling signs of recovery is that foreclosures made up only 38.1% of the sales in April, down from 54.6% in April 2009.
We still have our 10th consecutive month of rising sales and that can only be sustained by equity sellers entering the market,
This chart shows the number of Notice Of Defaults (NODs) and Notice of Trustee Sales that have been recorded for the last 12 weeks in Yorba Linda Ca. Some of these homes may be currently listed as short sales, which you can find at Yorba Linda Short Sales.
Many of the trustee sales get postponed or cancelled. Reasons for this may vary, such as the homeowner pays the delinquent amount owed, the bank gives the homeowner time to complete a short sale, or the homeowner files for bankruptcy. Some of the homes revert back to the bank if no one bids over the opening bid. Not too many homes have been bought by investors (shown as Sold to 3rd Party)
Of the homes that do make it to the Trustee Sale (foreclosure auction), the bank's opening bid has been