Foreclosure sales in Riverside County were unchanged last month, but crept up across the state, according to a real estate tracking firm.
Bay Area-based ForeclosureRadar.com’s “Foreclosure Report” showed a total 1,626 repossessed properties were sold countywide in May — virtually the same number as in April.
The county’s foreclosure sales were down 22 percent from a year ago, when 2,083 homes ended up on the auction block.
In California, 15,347 sales were recorded in May, compared to 14,902 in April, a 4 percent increase. Statewide, sales were lower by 12 percent from April 2010.
ForeclosureRadar.com founder Sean O’Toole said the pace of auctions has jumped in California and other states hardest hit by the mortgage meltdown. But at the same time, foreclosure cancellations have risen as borrowers and lenders attempt to work out loan modifications, making it difficult to predict near-term trends in foreclosure activity.
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