In Campbell’s book, Timing the Real Estate Market, he has an appendix listing the foreclosure sales by month from Jan 1982 to Jan 2004. The highest is 589 foreclosure sales in July 1996. (BTW, this is 6 months after his buy signal, once again making me wonder why he is having people buy into the market when foreclosures have not yet peaked).
I don’t have the foreclosure sales for San Diego, but I have the list of properties in foreclosure. Some may sell in time, or pay up their debt, but the number is creeping up. We are halfway there:
PS, it’s tricky splicing two series together. During my analysis, I found that RC’s sales figures for San Diego resale homes were larger than the ones that I bought directly from DataQuick. That’s why I had to buy the entire ’88-’06 series, instead of just the ’04-’06 data. So, just be careful to ensure that the new and old numbers encompass the same geographic catchment.
Thanks, jg, I have to admit I only know his area was “San Diego, CA”. So I assumed it was the city limits, but perhaps he used the whole county. His source is the SD Cty Recorders Office, so to be accurate, I would need to get the entire series.
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