California Foreclosed Homes For Sale - decrease 2.23%

August 28th, 2009 | Tags: Foreclosure Crisis

foreclosure-increase

The state of California got some good news between the months of May and July of this year. The number of foreclosed homes for sale has actually decreased during that time by a fairly substantial amount of 2.23 percent. This is a positive reaction that many attribute to the package thrown into effect by the Obama administration.

No matter, the residents in the state of California are breathing a little bit of a sigh of relief with this news. Although it is far from signaling the end of the foreclosure problems and woes for the state it is certainly a rather significant step in the right direction.

The decrease was fairly consistent across the board from the more populated cities all the way to the less populated areas. A lot of this decrease was directly linked to the stimulus package that was enacted by the federal government, which has helped to stay off the growth at least temporarily in this state.

While it is unsure if the numbers will continue to drop over the next few months, the experts that are analyzing the numbers seem to agree that the trend should, in all likeliness continue to fall slowly.

The hope is that this news will spur more consumer confidence and people will once again start buying property now that the prices are half what they were three years ago and that this too will continue to stimulate the numbers to move even farther.

Most agree that the foreclosure numbers now often resemble a day at the casino and it is more a luck of the draw than it is a matter of fact and that we will just have to sit and wait until we see the next set of numbers to know if we can consider this as a positive trend.

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