Report: Distressed sales at nine-year low

ATTOM Data Solutions’ 2016 U.S. Home Sales Report found that 16.2 percent of single family home and condo sales in 2016 were distressed sales — bank-owned sales, short sales or foreclosure auctions sold to third-party buyers — the lowest level for such sales since 2007.

Distressed sales decreased  from 18.8 percent of all sales a year earlier. Bank-owned (REO) sales accounted for 8percent of all sales in 2016, down from 10percent in 2015 and at its lowest level since 2006.

Short sales, homes that sold for less than the combined amount of loans secured by the property, accounted for 5.5 percent of all home sales in 2016, down from 6percent in 2015 and at the lowest level since 2008. Foreclosure auction sales (trustee’s sales or sheriff’s sales) selling to third-party investors (not including those going back to the foreclosing lender) comprised 2.8 percent of all home sales in 2016, down from 2.9

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