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October sees Seasonal Uptick in Distressed Home Sales Share
Thursday, December 31, 2015
Sales of distressed properties made up 10.2 percent of total
home sales in October CoreLogic said on Tuesday. The October number represented a slight seasonal
increase of 0.2 percent from September but was two full percentage points lower
than in October 2014.
Sales of lender owned real estate (REO) constituted 6.9
percent of sales compared to an 8.5 percent share a year earlier and was the
lowest for any October since 2007. Short
sales made up 3.3 percent of sales for the month. Short sales have maintained a share within
the 3 to 4 percent range since mid-2014.
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