Distressed Sales to Remain Elevated until 2017

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Posted To: MND NewsWire

While the share of home sales accounted for by distressed properties continues to drift lower, only two states are approaching what could be considered normal levels. CoreLogic said on Thursday that sales of lender-owned real estate (REO) and short sales made up 11.1 percent of residential real estate transactions in April, down 3 percentage points from April 2014 and 1.5 points from March 2015. The company noted that April is typically a month in which the distressed sales share decreases from the previous month, but this was the lowest share for any April since 2007. REO sales made up 7.4 percent of sales and short sales 3.7 percent. Short sales have had a relatively stable market share since dropping below 4 percent in mid-2014. There are always some distressed sales but they have typically...(read more)

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Source: http://www.mortgagenewsdaily.com/07092015_corelogic_distressed_sales.asp

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