The quarter's 18,567 default notices were the fewest in more than seven years. The sharp decline coincides with state regulations on banks, meant to curb foreclosure abuses, that took effect Jan. 1. But economic factors also played a big role in the declines, experts say.
"If you were going to lose your job, you would have lost your job a long time ago," said Richard Green, director of the USC Lusk Center for Real Estate.