RealtyTrac released its second quarter 2008 foreclosure numbers:
National total of NODs, Sale Notices, and post-auction deeds (known as Trustee's Deeds in California): 739,714
California total (same document types as shown above): 202,599. That's about 27.4% of the national total.
Increases over Q1 '08 - National, up 14%; California, up 19%.
Increases over Q2 '07 - National, up 121%; California, up 198%.
The RealtyTrac data, when combined with recent DataQuick foreclosure information, paints a grim picture indeed, as most people now facing foreclosure will end up losing their homes - that is, unless additional regulatory efforts help stem this tidal wave of loan failures.
Why doesn't this surprise me. I'm hoping that this market will change for the better....let's see.