Distressed Sales Slow to One in Ten

Posted To: MND NewsWire

Only slightly more than 10 percent of all home sales in December were distressed properties. CoreLogic said on Wednesday that sales of lender owned real estate (REO) accounted for 6.9 percent of sales and short sales for 3.4 percent. The combined total of 10.3 percent was down 2.8 percentage points from December 2014 and was 1.5 percentage points below those sales in November. At the peak in January 2009 distressed sales totaled 32.4 percent of all sales , with REO sales alone taking a 27.9 percent share. The REO share in December 2015 was the lowest for any December since 2006. The distressed sales share decreased year-over-year in all but eight states . Maryland had the largest share of such sales at 20.2 percent followed by Connecticut (19.2 percent), Florida (18.5 percent), Michigan (18...(read more)

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