"The month of January marked the first time ever that the number of homes sold at foreclosure auctions exceeded the combined number of resale single-family homes and condos sold in California."
According to our data company partner Foreclosure Radar, they say there was an increase of 454% of homes sold at foreclosure auctions in California in the past year. And according to the California Association of Realtors, "Sales fell nearly 30 percent and the median price of a single-family home was a whopping 22 percent less than the median a year ago."
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