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Distressed Residential Sales: Market Is Absorbing An Increasing Number

  • The percentage of Existing Home Sales that are foreclosures has increased in recent months as foreclosures work their way through the pipeline of distressed homes.
  • Distressed sales were reported at 40 percent of total Existing Home Sales in the latest REALTORS® Confidence Index Survey, up from the low 30 to 35 percent range during much of last year.
  • The numbers indicate that the market is absorbing a significant number of foreclosures and short sales that have been initiated over the past few years.

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Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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Comments
  1. This is good that these properties are working through the market. It will still take some time, several years to get past the distressed properties that are pulling down price.

  2. Of course this is going to happen. History always repeats itself. The market will recover as the economy does, and we will have another boom cycle starting in about 2014.