The number of homes being foreclosed on in the United States continued to decline in March, with 5.11 out of every 10,000 homes undergoing the process, real estate researcher Zillow announced.
The March foreclosure rate was less than half of the high point it reached in October 2010, when it was at more than 10.5 out of every 10,000 homes.
In the Los Angeles region the rate was lower. Only 3.3 homes went through foreclosure and, of those, 15.2 percent were re-sold within 12 months. The national resale rate was 13.3 percent.
Home values nationwide increased 0.5 percent from the fourth quarter of 2012 and are expected to increase 3.2 percent through March 2014, according to Zillow.
The lack of foreclosure resales and normal for-sale inventory in many markets is contributing to home value appreciation, as investors are buying up the distressed and non-distressed inventory, especially on the lower end of the housing market, squeezing out many conventional buyers, especially those requiring a mortgage instead of paying cash for a home.
Currently, there is only one home listed as a foreclosure in Agoura, according to Zillow. The address is 29282 Circle Dr, Agoura Hills, CA 91301. Click here for more information.