Foreclosures in L.A. County fell 5 percent in February and are down nearly 15 percent from one year ago, according to a report released Thursday.
A total of 2,755 homes were in foreclosure across the county in February, or one in every 1,253 homes, according to RealtyTrac, an Irvine real estate data firm.
Nationally, the numbers represent an eight-year low. Last year was the first since 2006 that annual foreclosures dropped below 1 percent of all housing units, according to the data.
This “is a significant milestone and a sign that nationwide foreclosure activity is on track to return to historic norms this year – and is possibly even headed below historic norms given the skinny-jeans-tight lending standards over the past five years,” said Daren Blomquist, vice president at RealtyTrac.
In the greater Valley, Palmdale again topped the list with the most foreclosures: one out of every 398 homes. The other major Antelope Valley city of Lancaster also continued to struggle, with one out of every 428 homes in foreclosure.
Other Valley communities with high foreclosure rates include Sun Valley, with one in every 555 homes; Pacoima, with one in every 742; and Sylmar, with one in every 737.
Among Valley communities with few foreclosures were Sherman Oaks, with one in every 1,551 homes; Thousand Oaks, with one in every 1,467; and La Canada-Flintridge, with one in every 1,432.