Temecula's Foreclosure Rate Jumps Up

A greater number of properties slipped into foreclosure last month in Riverside County than compared to figures from April, a real estate tracking firm reported today. 

The picture is similar for Temecula.

A total 1,585 mortgage default notices, auction sale notices and bank repossessions were recorded countywide in May, translating to 1 in 501 households in some stage of foreclosure, according to Irvine-based RealtyTrac.

Riverside County ranked No. 15 in foreclosure activity in California last month -- up from No. 21 in April. The number of foreclosure filings countywide was up 13 percent from April -- but down 64 percent compared to a year ago, figures showed. 

Temecula followed that month-over-month trend.

According to the RealtyTrac numbers, there are currently 747 properties in Temecula in some stage of foreclosure. In May, the number of properties that received a foreclosure filing in Temecula was 27 percent higher than in April but 64 percent lower than the same time last year, according to the figures.

Home sales for April were up 10 percent in Temecula compared with the previous month, and up 1 percent compared with a year ago. The median sales price of a non-distressed home was $325,000 in the city, and the median sales price of a foreclosure home was $295,000, the figures show

Nationally, 148,054 properties fell into foreclosure in May, a 2 percent increase from April but 23 percent less than the same time a year ago, according to RealtyTrac.

California ranked No. 11 in nationwide foreclosure activity in May, with 17,069 properties going into default, or 1 in 799, according to RealtyTrac. The figure was 6 percent above the number of filings in April but 60 percent below a year ago.

Florida had the highest foreclosure rate in the nation, with 1 in 302 households in default last month. --City News Service and Toni McAllister contributed to this report.