Distressed Home Sales Creep Toward Normal

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Posted To: MND NewsWire

Is it our imagination or has the return to normal levels of distressed home sales become an agonizing endurance test? Despite a nearly steady downward trend the market share of distressed home sales in September remained nearly four times the pre-crisis level CoreLogic said that sales of bank-owned property or REO made up 6.4 percent of all home sales in September and short sales accounted for another 3.3 percent. The combined 9.7 percent distressed home share was down 2.4 percentage points from September 2014 and 0.1 percent on a month-over-month basis. The REO sales share was the lowest since it reached 6.7 percent in October 2007 . From that point REO sales continued to climb, reaching 27.9 percent in January 2009 when combined distressed sales peaked at 32.4 percent. The short sales share...(read more)

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Source: http://www.mortgagenewsdaily.com/12022015_corelogic_distressed_sales.asp

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