Los Angeles Foreclosures Decline 18% from Fourth Quarter 2008

New foreclosure auctions continue to decline in the Los Angeles area.

New foreclosure auctions in the Los Angeles area declined by 18% during the first quarter of 2009 as compared to the fourth quarter of 2008, according to data provided by PropertyShark. This brings the current foreclosure activity close to the level that we saw during the first quarter of 2008.

The Palmdale Lancaster area still tops the charts as the zip codes with the highest amount of foreclosure activity within the Los Angeles area. The San Fernando Valley areas of Sylmar, Pacoima, Reseda and Panorama City continue to show relatively high amounts of foreclosure activity as well, but not nearly as high as the top zip codes in Palmdale (93550) and Lancaster (93535), which have a combined total of 586 new foreclosure for the first quarter of 2009. There were 2,403 total new foreclosures for the Top 15 zip codes for the first quarter of 2009, with zip codes 93550 and 93535 representing over 24% of that total.

Santa Clarita remains off the Top 15 zip codes for foreclosures once again, with zip code 91351 topping the Santa Clarita foreclosure list. Zip code 91351 is ranked at number 34 with 71 new foreclosures for the quarter. Santa Clarita’s zip code 91381, representing primarily Stevenson Ranch and Westridge, came in the lowest for the area this quarter with only 18 new foreclosures.