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Thursday
May172012

California's Foreclosure Rate Declines

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(NEW YORK) -- Home sales in California were up in April from the same month in 2011, according to data released Thursday from RealtyTrac.

The Golden State’s foreclosure rate decreased by 30 percent in April from the same period in 2011.

The decrease was partially attributed to the increasing use of short sales, in which lenders accept less than what is owed on a home, RealtyTrac CEO Brandon Moore said in a new release.

California was ranked No. 2, behind Nevada, in states with the highest foreclosure rates in April.

Copyright 2012 ABC News Radio

DateThursday, May 17, 2012 at 5:20PM AuthorRebecca Fenton

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