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Four More Years Before Distressed Sales Get Back to Normal

Friday, October 9, 2015

Distressed property sales continue to shrink as a percentage of all sales, but CoreLogic says it may be another four years before those shares reach what it considers a normal level.  Sales of real estate-owned properties (REOs) and short sales accounted for 9.4 percent of homes sold in July, the company said.  This was 2.1 percentage points less than the share in July 2015 and down 0.4 percent month-over month.

Short sales, where lenders agree to take less than the outstanding balance of the mortgages to release the lien had a 3.3 percent share of July sales. 

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