A total of 4,991 new and resale houses and condos sold in the nine-county Bay Area last month. That was up 0.5 percent from 4,966 in January but down 0.9 percent from 5,035 in February 2010, according to San Diego-based DataQuick Information Systems.
Distressed sales – the combination of sales of foreclosed homes and “short sales” – accounted for just over half of the Bay Area’s resale market last month.
Mortgages were least likely to go into default in San Francisco, Marin and San Mateo counties. The probability was highest in Madera, San Joaquin and Stanislaus counties. Those patterns are consistent with the historical norm.
At formal foreclosure auctions held statewide last quarter, an estimated 22.1 percent of the foreclosed properties were bought by investors or others who don't appear to be lender or government entities. That was down from 22.7 percent the previous quarter and 25.0 percent a year ago, DataQuick
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