Report: Foreclosures Way Down in Riverside County So Far This Year

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By City News Service

Foreclosure activity in Riverside County dropped by double digits in the first half of the year, but the county remained among the leading foreclosure markets in the state, according to figures released today by a real estate tracking firm.

Between Jan. 1 and June 30, 5,375 mortgage default notices, auction sale notices and bank repossessions were recorded countywide. That was 33 percent less than in the last six months of 2014, figures showed.

Irvine-based RealtyTrac’s U.S. Foreclosure Market Report showed Riverside County ranked No. 4 in statewide foreclosure filings during the first half of 2015.

Kings County was No. 1, followed by San Bernardino County at No. 2, Madera County at No. 3 and Kern County following Riverside at No. 5, according to RealtyTrac.

The number of Riverside County properties in default between January and June represented less than .7 percent of total housing stock, translating to 1 in 150 homes in some stage of foreclosure, data indicated.

The county’s drop in property repossessions dovetailed with state and national trends.

According to RealtyTrac, 587,589 foreclosure filings were recorded nationwide in the first half of 2015 -- a 13 percent decline compared to the prior semi-annual period.

In California, a total 55,546 properties slipped into foreclosure between January and June -- 27 percent less than in the last half of 2014.

The Golden State ranked No. 15 in foreclosure activity. Florida was No. 1 with 95,129 filings, according to RealtyTrac.