Foreclosures Down Sixty Percent in SOCAL

According to Gregory J. Wilcox of the Los Angeles Daily News, there is good news for the real estate market as we look ahead to 2014. Foreclosures were down a full 60% all across Southern California in 2013’s fourth quarter. This is another indication that the housing market continues on a upswing.

“In 2013, we got a better economy and a housing market that is much improved. Overall, this is good news as we look ahead to 2014. Still, the housing market will bump into supply constraints, and interest rates — still close to historical lows — are on the rise,” said Robert Kleinhenz, chief economist at the Kyser Center for Economic Research in Los Angeles.
As we enter into 2014 we will see more and more evidence of the healing of the realty market.