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California distressed housing market improves in April as sales increase

Original post made on Jun 17, 2011

The share of distressed homes sold in California dropped for the second consecutive month in April, the California Association of Realtors reported last week.

Read the full story here Web Link posted Friday, June 17, 2011, 12:00 AM

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Posted by Homeowner
a resident of Another Pleasanton neighborhood
on Jun 17, 2011 at 7:13 am

Gee, from the title sounds like our housing problems are going away and moving in the right direction.

Let's see, the % of homes sold in April that were distressed were only 48%, down three entire percentage points from last month. What momentum. And down from 49% last year. Now that is a positive trend!

Short sales dropped a FULL entire percentage point. Good to see these are almost all gone.

You should ignore the overall sales numbers in the last two paragraphs. The fact that overall sales are down from the prior month and compared to last year is irrelevant.

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