Colli Real Estate

Does the foreclosure of a california home equal a sale?

Recently, I’ve seen way that sales number for homes in california almost double compared to a year ago. I saw a blurb that bank foreclosures on a home show up as a home sale in california. I’m thinking this may possible explain the much higher rate of sales and dramatically lower prices. Anyone know if a bank foreclosure would show up as a home sale in california?

The actual foreclosure is not counted as a sale. It only becomes a sale once the lender has successfully sold the property to another owner.

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