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Foreclosure activity in Long Beach is down 3% in April 2010

Foreclosure activity in Long Beach April 7, 2010
Foreclosure activity in Long Beach April 7, 2010
Shelley Garza

Overall foreclosure activity in Long Beach is down 3% overall from the previous month as of April, 7, 2019 according to First American CoreLogic. There are also a few interesting trends to note.

Overall notices of default in Long Beach, the first stage in the foreclosure process, are down 6% from last month. This is an important indicator of future foreclosure activity. Such a healthy decrease may indeed signal much lower foreclosure activity in the future.

The hard hit 90805 zip code has seen a 7% total decline from last month in foreclosure activity, with a noticeable drop in notices of default and bank owned properties. This is another healthy decrease that may indicate fewer distressed properties in the area in the near future and a normalizing market.

Both the 90803 and 90814 zip codes have seen a slight increase in foreclosure activity from the previous month. 90814 saw an 8% increase in foreclosure activity and 90803 saw a 5% increase. These areas which were not as hard hit by foreclosure activity as other areas of Long Beach may be showing the effects of falling values of higher end homes.