Foreclosure inventory continues to decline in CA
Foreclosure sales in California were down 13.4 percent in June compared with May and 48.8 percent compared with a year earlier, according to a report by ForeclosureRadar. Notices of Default in the state were down 0.9 percent compared with the month prior.
According to the report, banks in California take an average of 272 days to resell properties they take back at auction. In June, the time to foreclose on a property in California increased 13.2 percent.
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