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Smallest Share of Distressed Sales since 2007
Thursday, August 6, 2015
Sales of lender-owned real estate (REO) in May represented
the smallest share of home sales in nine years.
CoreLogic said that the overall share of distressed properties sold
during the month, including short sales as well as REO, fell to 9.9 percent. This
was 1.7 percentage points lower than the April share and 2.8 percentage points lower
than a year earlier. CoreLogic said distressed sales typically decline as a
share of sales in May but this May had the lowest since 2007 when it was 5
percent and was the lowest for any month since October 2007's 6 percent.
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