Resales of California Foreclosures Accounted for 43 Percent

by cassy82 | May 11, 2010 at 08:48 am

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Resales of California foreclosures accounted for nearly 43 percent of total house sales in the state in the first quarter, an increase from 40.6 percent in the prior quarter.

Resales of California foreclosures accounted for 42.6 percent of total home sales in the state in the first quarter, based on sales figures from a real estate information firm.

The first quarter percentage marked a drop from 57.8 percent one year ago, but marked an increase from 40.6 percent in the previous quarter. Resale percentages varied by county significantly, from 14 percent in San Francisco to 68 percent in Merced.

By Cassiano Travareli