Mortgage defaults dipped in San Diego County last month to their lowest level since January, as distressed-property owners found alternatives to foreclosure, MDA DataQuick reported Monday.

Other signs of distress seemed be easing, as delinquencies stopped growing, banks acted on their foreclosure backlogs, more homes were listed for sale and there were more building permits. Some real estate industry analysts read the figures as another sign the housing market is stabilizing at or near the bottom. But they cautioned the market will remain troublesome for the foreseeable future.

“I think we’re nearing the bottom, and I think it’s time to come onto the market,” said Mark Goldman, a real estate instructor at San Diego State University. “I was much more pessimistic a few months ago.”

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http://www.signonsandiego.com/news/2010/may/24/default-chart-april/

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Christine Van Tuyl
Prudential California Realty
Coronado, CA 92118