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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
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