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REO Sales Share Below One-Third of Peak
Monday, June 8, 2015
The percentage of total home sales coming from distressed
inventories continues to drop. CoreLogic
said on Monday that short sales and sales of owned real estate (REO) fell 3.2
percentage points from March 2014 to March 2015 and were down 1.9 percent from
February to March.
REO properties accounted for 8.4 percent of home sales in
March and short sales made up 3.7 percent for a total distressed property share
of 12.1 percent. CoreLogic said that
March is typically a month in which distressed sales fall due to seasonal
factors, but this March had the lowest share of any March since 2007.
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