People who watch housing prices have predicted for months that another deluge of foreclosed homes would soon hit the market – once again crushing Sacramento-area property values.

But the flood of bank repos hasn’t materialized. And now, a leading California foreclosure analyst says it probably won’t.

“From the things I’m seeing, there’s not going to be a wave any time soon,” said Sean O’Toole, president of ForeclosureRadar, a Contra Costa County firm that tracks mortgage defaults and foreclosures.

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