REAL ESTATE

Home Foreclosures in State Decline: California home foreclosures fell in May to their lowest level this year after a sharp increase in recent months. Lenders began foreclosure proceedings on 13,118 homeowners in May--a 9.8% decline from May but still 17.5% above figures for May of last year, according to DataQuick Information Systems. The La Jolla-based real estate research firm said the number of new foreclosure notices hit an all-time high of 15,473 in March. Foreclosures began rising late last year as many lenders have begun to respond more quickly to problem home loans. So far this year, 59,225 California homeowners have been drawn into the foreclosure process, which is up 38.8% from the same period last year. The increase is due mostly to stricter policies by lending institutions.