Here comes the second wave - Inland Empire Foreclosures
OK, we have a trend. It looks like the second wave of foreclosures is starting to come through the door, gotta love those Alt-A failure rates. Both San Bernardino and Riverside counties logged the highest notice of defaults (NOD's) in March. The trend line is really picking up, if this continues for the next couple months the market will be flooded with new inventory.
The numbers of cancelations have increased about three fold from their lows but they are still very low, this is a sign that loan mods and work outs work for a very low number of those losing their homes.
Enjoy!
Empire Realty
| San Bernardino County | |||||||||||||
| NOD's - Notice of Default | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| 2006 | 1,003 | 1,165 | 1,261 | 1,369 | |||||||||
| 2007 | 1,489 | 1,305 | 1,623 | 1,586 | 1,786 | 2,038 | 2,272 | 2,693 | 2,176 | 2,435 | 1,266 | 3210 | 23,879 |
| 2008 | 4,033 | 3,496 | 4,035 | 4,150 | 4,106 | 4,281 | 4,094 | 4,213 | 1,515 | 1,752 | 2,276 | 4016 | 41,967 |
| 2009 | 4,025 | 4,604 | 5,275 | ||||||||||
| 2008 % Change M to M | 25.6% | -13.3% | 15.4% | 2.9% | -1.1% | 4.3% | -4.4% | 2.9% | -64.0% | 15.6% | 29.9% | 76.4% | |
| 2008 % Change Y to Y | 170.9% | 167.9% | 148.6% | 161.7% | 129.9% | 110.1% | 80.2% | 56.4% | -30.4% | -28.0% | 79.8% | 25.1% | |
| 2009 % Change M to M | 0.2% | 14.4% | 14.6% | ||||||||||
| 2009 % Change Y to Y | -0.2% | 31.7% | 30.7% | ||||||||||
| NOS's - Notice of Sale | |||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
| 2006 | 305 | 417 | 458 | 501 | |||||||||
| 2007 | 638 | 760 | 883 | 785 | 1,103 | 1,034 | 1,253 | 1,295 | 1,405 | 1,894 | 1,169 | 2,153 | 14,372 |
| 2008 | 1,981 | 1,352 | 2,615 | 2,982 | 3,359 | 3,451 | 3,650 | 3,570 | 1,936 | 2,427 | 2,901 | 2,455 | 32,679 |
| 2008 | 2,428 | 2,152 | 3,487 | ||||||||||
| 2008 % Change M to M | -8.0% | -31.8% | 93.4% | 14.0% | 12.6% | 2.7% | 5.8% | -2.2% | -45.8% | 25.4% | 19.5% | -15.4% | |
| 2008 % Change Y to Y | 210.5% | 77.9% | 196.1% | 279.9% | 204.5% | 233.8% | 191.3% | 175.7% | 37.8% | 28.1% | 148.2% | 14.0% | |
| 2009 % Change M to M | -1.1% | -11.4% | 62.0% | ||||||||||
| 2009 % Change Y to Y | 22.6% | 59.2% | 33.3% | ||||||||||
| Data Source: foreclosureradar.com - Analysis Empire Realty | |||||||||||||
| Cancelation of Auction | |||||||||||||
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