The percentage of distressed home sales is falling, but still remains elevated in California’s heartland, according to new California Association of Realtors data.
Statewide, 35 percent of existing home sales in California last month were distressed, down from 50 percent in November 2011. But the percentages were higher in much of state’s inland portion, which is where home prices fell the most.
Madera County had the greatest percentage of distressed sales at 58 percent. That was down from a whopping 88 percent a year earlier. Tehama and Solano counties were at 55 percent, while Merced County was at 52 percent and San Joaquin and Riverside Counties were at 51 percent respectively.
Fifty percent of the sales in Fresno and Stanislaus counties were distressed.
Closer to home, the percentage of distressed sales in November in Sacramento, Placer, Yolo and El Dorado counties was 47, 35, 47 and 38 respectively.
Sanford Nax covers real estate, planning, development, construction and economic issues for the Sacramento Business Journal.