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SD short sales decline significantly

The level of short sales in California fell to the lowest level in more than six years, and San Diego has seen a similar decline.

According to a California Association of Realtors report, the number of short sales in the state declined from 15 percent of transactions in February to 12.4 percent in March of 2014.

San Diego County, which had the third lowest percentage of short sales in the state, came in with just 4 percent level of distressed sales in March compared to 5 percent of the sales in February and 9 percent of the overall transactions in the county in March 2013.

"Equity (non-distressed) sales stabilized over the past several months but have started rising again as the spring home-buying season takes off," the CAR reported. "March marks the ninth straight month that equity sales (statewide) have been more than 80 percent of total sales. Equity sales made up 71.8 percent of sales in March 2013."

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