October sees Seasonal Uptick in Distressed Home Sales Share

Posted To: MND NewsWire

Sales of distressed properties made up 10.2 percent of total home sales in October CoreLogic said on Tuesday. The October number represented a slight seasonal increase of 0.2 percent from September but was two full percentage points lower than in October 2014. Sales of lender owned real estate ( REO ) constituted 6.9 percent of sales compared to an 8.5 percent share a year earlier and was the lowest for any October since 2007. Short sales made up 3.3 percent of sales for the month. Short sales have maintained a share within the 3 to 4 percent range since mid-2014. Normal 0 false false false EN-US X-NONE X-NONE Distressed sales hit a peak share of 32.4 percent in January 2009 with REO alone having a 27.9 percent share. The declining market share of REOs and short sales has contributed to the...(read more)

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