Los Angeles Foreclosure Statistics - May 2011
Los Angeles had 64,606 foreclosure homes with 11,109 new foreclosure homes in May 2011. The average price of a Los Angeles home was $504,093 and the average sales price of a foreclosed home was $302,655, according to RealtyTrac.com, a $201,439 savings.
Los Angeles Foreclosure Activity and Home Price Index
There were 11,109 foreclosures in May while price appreciation was 0.00%.
Los Angeles County foreclosure activity is based on the total number of properties that receive foreclosure filings - default notice, foreclosure auction notice or repossession notice - each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.
Los Angeles Foreclosure Geographical Comparison
Los Angeles foreclosures were 0.16% above national statistics and 0.06% below California numbers in May.
Los Angeles Foreclosure Activity by Month
The number of bank-owned properties decreased from 2,420 in April to 1,771 in May. Pre-foreclosure acitivity decreased from 4,936 properties to 4,113. The number of auctions increased from 4,590 to 5,225. There is currently a six month 'falling' trend.
Are you or someone you know behind on your mortgage payments and facing a foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation.
