NEWSWed, Jul 07Foreclosures driving the real estate marketRealtyTrac has reported that more than 30 percent of all home sales across the country during the first quarter were tied to some stage of the foreclosure process.
Nevada had the highest proportion of distressed sales of any U.S. state, with 64 percent of all transactions involving properties in mortgage distress.
California ranked second, with such sales accounting for 51 percent of all sales and Arizona was third at 50 percent.
Discounts on distressed homes were highest in Ohio, Kentucky and Illinois, where they sold for an average of at least 39 percent less than non-foreclosures. |
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