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According to the latest REALTORS® Confidence Index survey, foreclosure sales continue to decline at the back-end of the foreclosure process—the point at which the property enters the MLS listings and is finally sold to a new buyer. This seems to indicate that banks are feeding foreclosures into the market on an ongoing but orderly basis, which should reduce the possibilities of future major price declines due to the dumping of distressed properties on the market. Assuming that the economy continues its expansion (an assumption supported by available economic data although a subject of intense interest) the information on distressed sales indicates that while the currently high level of distressed sales will probably continue to have negative impacts on price, the situation should not get worse.
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