California Led The Nation In Appreciation, Now It Leads In Foreclosure Activity
Today, we’re going to do some old-fashioned cross-referencing and see what inferences are there to make.
According to RealtyTrac, California was home to six of the leading 10 foreclosure cities in April 2007.
These cities were:
#1 Stockton
#2 Vallejo-Fairfield
#4 Riverside-San Bernardino
#6 Modesto
#7 Sacramento
#8 Merced
Stockton — as leading foreclosure city in the nation — registered one foreclosure for every 131 households. That is six times the national average.
Now, let’s flash back to homestore.com’s Top 5 Home Buying Spots story from 2001.
Using home appreciation as its guide, the story highlighted the five fastest growing cities in the nation.
Recognize any of these city names?
#1 Stockton-Lodi (23.5%)
#2 Modesto (21.4%)
#3 Salinas (21.2%)
#4 Santa Rosa (18.3%)
#5 Vallejo-Fairfield-Napa (17.4%)
I cannot say for sure if there is a direct correlation between the two data sets because they are six years apart, but it’s probably more than just a coincidence.
