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The share of distressed properties on the market continued to decline in April. Approximately 18 percent of REALTORS® who responded to the April REALTORS® Confidence Index Survey and who reported a sale sold a distressed property, substantially down from levels a few years ago.
REALTORS® continued to report strong demand for REOs from investors who reportedly win against first-time homebuyers. About 37 percent of reported sales made to investors were distressed properties, compared to about 17 percent in the case of first-time homebuyers.
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