Tag Archives: USD Index of Leading Economic Indicators

San Diego County foreclosures filings drop again

Foreclosure filings in San Diego County continued their drop in May, this time by a whopping 21% (year over year), according to Jen Lebron Kuhney of The Daily Transcript.  Kuhney points out that “Foreclosures had been on the rise for three months straight before May.”

1,148 trustee’s deeds were filed, a 16% drop from April, while 1,798 notices of default were also filed, a 24% decline from March, according to Kuhney.  Quoting Alan Gin, professor of economics at USD, “It’s a result more of the same of what we’ve been seeing over the past few months: The housing market is improving.  The economy is improving.  There is less job loss.”

Gin produces the USD’s Index of Leading Economic Indicators, and said he is cautious about making future predictions on foreclosures.  Although there have been warnings of a recession double dip, “…Gin said it is possible that wave may not form.”

Concluding, Gin said, “‘We’re seeing a general rebound in terms of the economy…In San Diego we added jobs in hospitality, construction and temporary jobs.  These are the first steps in business picking up again.'”

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