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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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