California foreclosure notices fall to 5-year low

http://abclocal.go.com/kgo/story?section=news/state&id=8850916

Home foreclosure activity in California fell to a new five-year low in the third quarter as rising prices eased pressure on homeowners and lenders, a research firm said Wednesday. 

There were 49,026 default notices on residential properties from July through September, down 31.2 percent from 71,275 the same period last year and down 63.8 percent from 135,431 in the first quarter of 2009, DataQuick said. 

It marked California's lowest number of default notices since there were 46,760 in the first quarter of 2007.