Bay Area Notices of Default (NODs) in the first quarter of 2010 fell 30.5% on a year-over-year basis, down 5.8% in San Francisco proper (from 569 to 536). NOD activity in San Francisco rose 15.3% from the fourth quarter of 2009 to the first quarter of 2010 (versus an 88.4% gain the year prior).
Actual Bay Area foreclosures in the first quarter rose 6.1% on a year-over-year basis (from 6,050 to 6,417) with Contra Costa (up 6.0% to 1,842), Alameda (up 4.2% to 1,266) and Santa Clara (down 7.6% to 1,069) leading the way with respect to volume.
First quarter recorded foreclosures in San Francisco totaled 193, up 91.1% on a year-over-year basis and up 10.9% (19 homes) from the fourth quarter 2009 versus a 10% drop from the fourth quarter in 2008 to the first quarter in 2009 (think moratoriums).
∙ California Foreclosure Activity Declines Again [DQNews]
∙ Actual San Francisco Foreclosures Down 2.8% QOQ (Up 55.4% YOY) [SocketSite]