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Return to Normal Slows for Distressed Sales

Wednesday, November 4, 2015

Sales of distressed properties, an increasingly negligible portion of all home sales, slipped even further in August.  Sales of lender owned or REO properties constituted a 6 percent share and short sales accounted for another 3.3 percent.  The combined total of 9.3 percent was down 0.4 percentage points from July and was 2.3 percentage points lower than the share in August 2014.

The share of REO sales was the lowest since September 2007 when it was 5.2 percent however the short sale share has remained in the 3-4 percent range since mid-2014. While the share of distressed sales has diminished significantly since peaking at 32.4 percent in January 2009 the rate of decline seems to have slowed.

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