August 14, 2012
Foreclosure Activity Falls In San Francisco, Pipeline Down 31 Percent
Having dropped 17 percent from April to June, pre-foreclosure activity in San Francisco has fallen another 5 percent over the past two months with 378 properties in the pipeline, 33 percent of which are in District 10* versus 39 percent two months ago.
On a year-over-year basis, pre-foreclosure activity is down 31 percent with 576 properties in the pipeline at the same time last year, 32 percent of which were in District 10.
The number of properties currently scheduled for auction in San Francisco (514) fell by 2 percent over the past two months, 45 percent of which are in District 10, down 26 percent from August 2011 when 43 percent were in District 10.
Last year roughly 70 percent of scheduled foreclosure auctions in San Francisco were cancelled (only one point above the 69 percent cancellation rate for scheduled auctions in District 10), up from a 66 percent cancellation rate in 2010, 55 percent in 2009, 53 percent in 2008, and 49 percent in 2007.
*Editor's Note: In an attempt to match and map two disparate data sets, we include 94124, 94134 and 94112 in "District 10," which results in a slightly larger area than the District as defined by the San Francisco Association of Realtors.
First Published: August 14, 2012 10:45 AM
Comments from "Plugged In" Readers
Not surprised that pre-foreclosure activity is down but I am surprised at how many properties remain scheduled for auction.
Posted by: CH at August 14, 2012 6:04 PM