Fewer Foreclosed Homes in San Joaquin County

San Joaquin County foreclosure activity tumbled in 2013, with legal filings falling by more than half from 2012, according to RealtyTrac Inc.

In the last three months of 2013, Stockton foreclosure filings were down 62 percent from the same period of 2012.

The county was ranked 25th among large U.S. metropolitan areas in foreclosures, equal to one in 60 of all housing units. It was the first time since the housing bubble burst in 2006 that the region lost the dubious distinction of being at or near the top in annual filings.

San Joaquin County saw more than 3,900 foreclosure filings in 2013, down 58 percent from the more than 9,300 filings the year before. During the height of Stockton’s housing crisis in 2008, filings totaled more than 21,100 and topped 19,500 in 2009.

Some areas of the country continue to be deeply affected by foreclosures such as Florida, where Miami and other metro areas posted 2013 rates among the 10 highest in the country.

Nationwide, RealtyTrac reported 1.36 million foreclosure filings in 2013, down 26 percent from 2012 and 53 percent lower than the peak of 2.9 million filings in 2010.

It was the lowest annual total since 2007, when the tally reached 1.3 million foreclosure actions.

Those 2013 filings amounted to about 1 percent of all U.S. housing units, a rate about 40 percent lower than in Stockton. The rate in California last year was also about 1 percent.

After Florida, where 3 percent of all housing units were affected by a foreclosure filing in 2013, states with the highest foreclosure rates last year were Nevada with 2.2 percent; Illinois with 1.9 percent; Maryland, 1.6 percent; and Ohio, 1.5 percent.

RealtyTrac also reported that in the preceding eight years, 10.9 million U.S. properties had started the foreclosure process and 5.6 million have been repossessed by lenders.

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