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Report: Stockton, Modesto Post Highest Distressed Home Sales

  

Modesto was one of the U.S. housing markets with the highest home price appreciation in November. Research firm RealtyTrac says Modesto's median sales price last month was $218,000, up 18 percent from a year ago...but still down from its peak of $385,000 in 2005. 

The numbers also show Stockton and Modesto posted some of the highest numbers in the country when it came to short sales and sales of distressed homes. Those are homes in foreclosure or bank-owned. Nationwide 12.6 percent of all residential property sales were distressed and short sales. But in Stockton it was 27.6 percent. The second highest in the country behind Las Vegas. In Modesto it was 25.1 percent, the fifth highest in the United States.

The median sales price of California single-family homes and condos in November was $375,000, down one percent from October but up nine percent from a year ago. Nevada's median sales price in November was $175,000, flat from the previous month but up nine-percent from last year.