Distressed Sales Plateau

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Posted To: MND NewsWire

Distressed residential sales inched up a bit month-over-month in January but have been relatively stable over the last year. CoreLogic said on Thursday that sales of lender-owned real estate (REO) and short sales made up 11.2 percent of total home sales during the month, an increase of 0.6 percentage points compared to December. Distressed sales decreased by 3.3 percent from January 2015 but much of that decline appears from the chart below to have occurred in the early months of 2015. Distressed sales have, except for a small spike in November, been hovering in the 9.5 to 11.5 percent range since last spring. Of total sales in January REO accounted for 7.8 percent and short sales for 3.4 percent. The REO sales share was 2.9 percentage points below the January 2015 share and is the lowest for…(read more)

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