Foreclosures dropped to a nearly eight-year-low in San Diego County in June, as rising equity and an improving economy continue to help people get out of bad loans.
Last month, lenders foreclosed on 134 properties in the county, seven fewer than they did in May, and down from the 153 properties repossessed in June 2013, real-estate tracker DataQuick reported Thursday. It was the lowest amount of foreclosures since there were 134 in August 2006.
Foreclosures peaked in San Diego County at 2,004 in July 2008.
Default notices, which trigger the foreclosure process, ticked up from 419 in May to 424 in June. Still, they’re down more than 35 percent from the 654 in June 2013.
Default notices peaked at 3,832 in the county in March 2009.
In June, the median price for a home in San Diego County was $440,000, up 8.2 percent from a year earlier. The median rose another $10,000 in July to a nearly seven-year high.
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