Foreclosure Activity Falls In San Francisco, Pipeline Down 31 Percent
Foreclosure Activity Falls In San Francisco. Having ticked up in April, pre-foreclosure activity in San Francisco has fallen 17 percent over the past two months with 397 properties in the pipeline, 39 percent of which are in District 10*, down from 480 properties in the pipeline 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 scheduled for auction in San Francisco (522) fell by 12 percent over the past two months with 43 percent in District 10 versus 42 percent in April, down 24 percent from June 2011 when 41 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.