REAL ESTATE TOPICS...California suburbs growing fast as many are priced out of cities, data show (Talking Points)

According to state officials, suburban areas just outside of Los Angeles and San Francisco grew especially fast last year due to red-hot housing markets. As people attempt to remain within commuting distance while fleeing astronomical prices, many suburbs have increased in popularity.  For example, San Joaquin County, home to Stockton, grew faster than any other, up 1.3 percent to 733,000 people. San Joaquin was followed by Yolo, Riverside, and Santa Clara counties. Among cities with at least 30,000 people, the fastest-growing were concentrated primarily in the Inland Empire and Orange County: Porterville, Eastvale, Lake Forest, Beaumont, and Lake Elsinore. Supply needs have only grown for the state’s population, but the number of new housing units in California declined last year for the first time since the start of the economic recovery.

TALKING POINTS …

• It has taken nine years, but the number of U.S. homes in foreclosure has fallen to a level not seen since before the 2008 housing crisis. The number of properties in active foreclosure declined by 24,000 to 631,000 in March, according to Black Knight Financial Services. That’s the lowest since October 2007.

• The wave of foreclosures crested in 2010 when banks seized a record 1.2 million properties and served even more with notices of default, auction, or repossession.

• Delinquencies on home loans across the country fell to 4.08 percent in March, the lowest since March 2007.