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Distressed Home Sales Rise To 28Pc

Sales of homes owned by banks or in some stage of foreclosure accounted for 28% of all U.S. residential sales in the first quarter, up from 27% in the previous three-month period, according to RealtyTrac.

Sales of homes owned by banks or in some stage of foreclosure accounted for 28% of all U.S. residential sales in the first quarter, up from 27% in the previous three-month period, according to RealtyTrac. The average sale price for these properties declined 1.89% to 168,321, about 27% below prime properties.

Click here to read the release from RealtyTrac.

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