San Diego Homes

1,837 San Diego Home Defaults in March

This news may seem a little dreary, but we’re on an upward trend in San Diego County. March defaults were down 19% over one year ago. (When a homeowner hasn’t paid their mortgage for 3 months, a notice of default goes out.) According to the analysts at DataQuick Information Systems, San Diego County has 1,837 homes that are at least 3 months behind on their mortgage. According to the US Census Bureau, in 2009 596,414 families owned their own home. We all know that the number has fluctuated, but we can clearly see that the ratio of people defaulting on loans is small compared to the number of homeowners.

DataQuick also reported there were 1,047 foreclosures in March. This is an 8% decrease from March 2010. (A lender forecloses on a house when the payment has not been paid for 6 months or more.) So the ratio of foreclosures to number of homes owned in San Diego County is very low.

With all the doom and gloom that the media likes to spread about distressed properties and the fate of San Diego Real Estate, it’s nice to have some real numbers to relate to. To find out more about your local real estate market give Mindi Landry a call at (760) 737-3767.

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