Distressed home sales drop to nine-year low
November 3, 2016
• Accounted for 12.9 percent of all U.S. single-family home and condo sales
• “Distressed inventory for sale is virtually non-existent in many of the nation’s hottest housing markets”
Sales of “distressed” homes in the U.S. — including bank-owned sales, sales of homes actively in foreclosure, and short sales — accounted for 12.9 percent of all U.S. single family home and condo sales in the third quarter, down from 15.0 percent in the previous quarter and down from 15.9 percent in Q3 2015 to the lowest share of distressed home sales since Q3 2007, when distressed sales accounted for 12.3 percent of all home sales, according to a report from Irvine-based RealtyTrac, a unit of Attom Data Solutions.
The peak in share of distressed sales was Q1 2009 at 43.9 percent of all U.S. single
... read more at: http://www.centralvalleybusinesstimes.com/stories/001/?ID=31523