SAN DIEGO — California home foreclosure fell in the third quarter as rising prices left fewer homeowners in trouble, a research firm said Tuesday.
There were 20,314 default notices filed from July through September, down 58.6 percent from 49,026 the same period last year, DataQuick said.
It was the lowest level since 18,568 notices were filed in the first quarter of this year and the second- lowest since 18,856 filed during the first quarter of 2006.
A sharp rise in home values has left fewer Californians owing more than their properties are worth and less vulnerable to foreclosure, DataQuick said. The state’s median sales price was $360,000 during the third quarter, up 26.3 percent from $285,000 a year earlier.