But RealtyTrac’s Daren Blomquist says that’s due in large part to government measures like moratoriums. He says they often lower rates in the short term, but lead to spikes after they’re done.
Blomquist: “Unfortunately, a lot of it is more of a temporary delay on foreclosure activity as opposed to a long-term turnaround in the trend. So we expect that roller coaster ride to continue in 2010 as we have even more programs designed to prevent foreclosure in the mix.”
Merced, Stockton and Modesto all ranked in the top six markets nationwide in foreclosure rate. Merced was third, with more than 10 percent of its housing units in some stage of foreclosure.
The Sacramento region came in 15th, with a rate of around five-and-a-half percent.
