The most populous state in the country, California saw short sales increase in the fourth quarter. Los Angeles led the charge, with the most short sale houses sold of any metro in the country, let alone the state, at an average sale price of $342,668. In terms of total home sales, Los Angeles also boasts the highest percentage of short sales on the list, at 22 percent.
Like most of the states on the list, California's housing market has been ravaged by foreclosure. Foreclosure-related sales made up 43 percent of the state's total home sales, second only to Nevada (at a terrifying 65 percent). Even at a discount, California is still one of the most expensive places to call home. The three California metros on the list of top metros for short sales were the only ones whose average sale prices surpassed the $300,000 mark.
