Foreclosed homes accounted for 24 percent of all residential sales in the second quarter of 2010, according to RealtyTrac’s Q2 U.S. Foreclosure Sales Report. Rick Sharga, RealtyTrac’s senior vice president, said the volume of activity was what is needed for the market to heal because the more distressed properties that are sold the quicker housing recovers. There were 248,543 properties in some stage of foreclosure sold in the second quarter, an increase of nearly 5 percent from the previous quarter. More here, here, and here.
Theresa Springer’s Blog
Foreclosures Nearly A Quarter of 2nd Quarter Sales
October 5, 2010
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