IE Business Daily Business news for the Inland Empire.
Foreclosures in the Inland Empire dropped 60 percent year-to-year during October.
That drop was more than twice the size of that recorded nationwide, according to a report originally published in The Press-Enterprise.
The report, citing data from RealtyTrac, the real estate information service, said the two-county region still has its share of foreclosure problems. It ranks fifth among the country’s 20 largest metropolitan area for the most foreclosures, which means it’s outperforming nearly 30 other similar-sized markets.
More than 2,800 filings related to distressed properties – notices of default, scheduled auctions or lender take-backs – were filed in Riverside and San Bernardino counties last month, according to the report.
That worked out to one filing for every 531 households.
California’s foreclosures dropped 58 percent in October compared with October 2012, according to the report.
