Orange County home foreclosures fell 27% in October, versus a month earlier, Irvine-based RealtyTrac Inc. said Monday.
Foreclosures had jumped 22% in September.
October saw 188 properties enter some stage of foreclosure, said RealtyTrac, a provider of foreclosure data nationwide. That’s just one foreclosure for every 5,157 households. The OC ratio is half the state average and less than one-third of the national average.
Los Angeles County saw a 7% decline in foreclosures to 1,201 in October. L.A. had posted two consecutive months of higher foreclosures.
“Although there are a large number of properties in the state and region in the early stages of default, Southern California foreclosure rates continue to be among the lowest in the country,” said James Saccacio, chief executive of RealtyTrac, in a statement. “It’s significant that both the state and the region had [a] significant decrease in foreclosures while the country as a whole had one of the highest single month increases of the year.”
Nationwide, foreclosures increased 19% in October, with a total of 81,382 properties entering some stage of foreclosure. The nation recorded one foreclosure for every 1,422 households in the month.
Statewide, foreclosures fell 6.3% in October, with a total of 4,679 properties entering some stage of foreclosure.
