California foreclosure sales decline year-over-year

Foreclosure sales in California declined 41.7 percent in July compared with July 2011, but rose 10.4 percent compared with June 2012, ForeclosureRadar recently reported. Notices of Default increased slightly in July (1.4 percent) compared with the previous month, but rose 12.3 percent compared with the previous year.

ForeclosureRadar’s report says, “It is normal to see monthly fluctuations in both directions on a month-to-month basis, thus it is critical to look at the monthly trends over time to get a clear picture of the foreclosure marketplace.”

“While we are as curious as anyone to see the direction foreclosures are headed each month, it is important to keep things in context,” stated Sean O’Toole, founder and CEO of ForeclosureRadar. “It is not unusual to see the number of foreclosure filings or foreclosure sales go up or down 10 percent or more each month. Whether it’s due to the length of the month, holidays, or internal delays at a lender, trustee, or posting company, it is completely normal to see fluctuations.”