California Foreclosures Rise but Stay Low | San Jose News

California’s foreclosure numbers are climbing—over 21,000 homes in some stage of foreclosure this year, the highest in seven years—but it’s nowhere near the crisis of the Great Recession. The state ranks third nationally, behind Florida and Texas, yet still operates at 93% below the foreclosure pace of 2008–2012. Tighter lending standards, financially stable new buyers, and a steady economy are keeping things from spiraling. While California’s rate (1 in 374 homes) is 14th nationally, foreclosures are up 13% over two years—a modest rise compared to the national 28% jump and far below states like Montana and Colorado. Keep an eye on this trend as aid programs wind down and the economy cools. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/dd37e62cde0223ed