Distressed Sales have usual November Blip

Posted To: MND NewsWire

There was a slight uptick in the market share of distressed home sales in November. Sales of lender-owned houses (REO) and short sales accounted for 11.9 percent of total home sales nationally, a 1.4 percent point gain over those sales in October. The share was, however, down 1.9 points from November 2014. In releasing the November numbers CoreLogic said the month-over-month increase was a factor of seasonality and was in line with blips in previous Novembers. Distressed home sales were still the lowest for any November since 2007. REO had an 8.7 percent portion of all sales with short sales making up the balance of the distressed share with 3.2 percent. The REO sales share was 1.5 percentage points below that in November 2014. The short sales share fell below 4 percent in mid-2014 and has...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Mortgage News Daily http://ift.tt/1SlU3sO