Distressed Sales To Remain Elevated into 2019 -CoreLogic

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Posted To: MND NewsWire

The share of total home sales made up by distressed properties is now one-quarter the level it was in January 2009. CoreLogic reports that in May the total of foreclosed homes and houses sold through a short sale was 8.4 percent with foreclosures accounting for 5.4 percent of the total. On a month-over-month basis the distressed shares were down 1 percentage point from April and 2.1 points below the May 2015 level. At the peak, distressed homes sales, made up 32.4 percent of the residential market, with foreclosures accounting for a 27.9 percent share. CoreLogic notes there will always be some level of distress in the housing market, with the pre-crisis share of sales generally running around 2 percent. If the current year-over-year decrease in the distressed sales share continues, the company…(read more)

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