IE Business Daily Business news for the Inland Empire.
Home foreclosures in the Inland Empire dropped last month, according to data released last Thursday.
There were 2,658 foreclosure filings in Riverside and San Bernardino counties in November, down 5.3 percent compared with October and down 56 percent year-to-year, according to a report originally published in The Press-Enterprise.
San Diego and Los Angeles counties reported similar drops in foreclosures in November. That’s an indication that the foreclosure rate is moving back to normal levels, according to the report, which cited RealtyTrac, which tracks foreclosure and other real estate data.
“The depth and breadth of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all but guaranteed,” said RealtyTrac Vice President Daren Blomquist in a statement.
