By Jonathan Lansner
California foreclosure filings in 2023 were up 41% from the pace of the previous three years.
California’s 32,905 foreclosure filings in 2023 were No. 2 among the states. Economic rivals Florida was No. 1 at 35,813 and Texas was No. 3 at 30,467.
Yes, California foreclosure activity was 41% above the 2020-22 pace – the 13th smallest jump among the states. The national pace was up 55%.
The biggest leaps were found in DC (up 403%), West Virginia (up 155%), Oregon (up 116%), New York (up 102%), and Idaho (up 101%). Texas was No. 9, up 85%, and Florida was No. 32, up 46%.
When we compare last year’s mortgage payments problems to pre-pandemic 2015-19 – a yardstick for “normal” conditions – California foreclosure activity is actually down 59%. That’s on par with a 60% drop nationally.
Read more: Daily Breeze
