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Distressed Sales Share Cracks Into Single Digits
Thursday, September 10, 2015
While sales of lender owned real estate
(REO) and short sales continue to account for around one-fifth of all home
sales in at least five states the share of distressed home sales is steadily
returning to normal levels on a national basis.
CoreLogic said today that REO sales accounted for 6 percent of all residential
sales in June, the lowest share since September 2007 when it was 5.2
percent. Short sales made up 3.4 percent
of the total.
The combined distressed sales share,
9.4 percent, is down 2.4 percentage points from June 2014 and 0.9 point from
May, bringing the share into single digit territory. CoreLogic says these sales typically dip in
June due to seasonal factors but this month's share was the lowest for June
since it hit 4.9 percent in 2007.
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