At the state level, March was a record setting month for California with over 42.7k Notice of Defaults recorded. This is a 14.3% increase over February and will help produce a jump in foreclosure sales and bank owned (REO) properties during the Summer months. When we bring these numbers down to the local level, however, we notice the biggest increase in our Single Family REOs.

Antioch, already one of the hardest hit Contra Costa cities, had over 180 Single Family REOs in March. Compare this to approximately 160 recorded in February, and you notice a 12.5% month-over-month increase. Richmond, in similar fashion, went from approximately 75 Single Family REOs in February to 90 in March - a 20% month-over-month increase. Concord and Pittsburg, although having smaller numbers of properties, actually experienced much larger month-over-month increases - 35.5% for Concord and 55.8% for Pittsburg!

Take a look at the majority of the Contra Costa cities to see how the past four months of REOs have impacted each:

If you are interested in seeing the other March foreclosure trends for Contra Costa please either give me a call (925.817.8428) or send me an email and I’d be happy to provide them to you.