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Foreclosure Auction Increases

September 12, 2012

The number of foreclosure auction properties getting an opening bid and actually going to auction increased 38% in August over July.  See the chart above.

California experienced a sharp increase in the number of properties that actually went to auction in August. The number of auction conclusions with an opening bid increased 38% statewide over July, however still well below 2011 peaks. Over July the number of properties acquired also increased.  Southern California saw a 12.9% increase in 3rd party purchases while statewide the increase was 20%. The chart above shows the number of Southern California trustee sale completions that got an opening bid and actually sold over the previous year.

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