Tuesday, March 6, 2012

2012 might be year of the Short Sale

More than a quarter of all home sales last year were of bank-owned properties or homes purchased in a short sale, a sign of continued stress on a market where traditionally less than 1 percent of sales are of distressed homes.
According to a year-end report released last week by Irvine, Calif.-based RealtyTrac, about 22 percent of sales statewide in 2011 were of homes in foreclosure or short sale. The report measured all deed transactions, not just Realtor sales.
Nationwide, distressed sales made up 23 percent of all home purchases.

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