Foreclosures and default notices remained low in San Diego County in July.
Last month, lenders repossessed 139 properties in San Diego County, down from 153 a year ago, and well below the peak 2,004 reached in July 2008, the middle of the Great Recession. July’s foreclosure number was the lowest for that particular month since 2005, real estate tracker CoreLogic DataQuick reported Tuesday.
In July, the median sale price for a home in San Diego County was $445,000, up 6.6 percent from the same month last year. The higher price has helped homeowners regain equity, meaning they are able to sell their home in case they cannot make monthly payments.
Default notices, which trigger the foreclosure process, are also still low. Last month, there were 446 default notices filed in the county, down from 516 in July 2013, and well below the 3,006 filed in July 2008.
The number of default notices filed were the lowest for a July since 2005.
San Diego Union Tribune