Orange County home foreclosures in February fell 29%, versus a month earlier, Irvine-based RealtyTrac Inc. said Wednesday.
Foreclosures had increased 30% in January from a month earlier.
February saw 422 homes enter some stage of foreclosure, said RealtyTrac, a provider of foreclosure data nationwide. That’s a rate of one new foreclosure for every 2,297 homes.
As recently as October, OC was seeing one foreclosure for every 5,157 homes.
The OC foreclosure rate in February was about half the state average, which is one new foreclosure for every 1,341 households. California foreclosures fell 3% from January, but increased 80% from a year earlier.
A total of 117,259 U.S. properties entered some stage of foreclosure in February, a 13% increase from the previous month, and a 68% increase from a year ago.
The U.S. registered a foreclosure rate of one new foreclosure for every 986 households.
