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Eighteen Percent of REALTORS’® Reported Sales in June Were Distressed

Approximately 18 percent of respondents who reported a sale in May sold a distressed property, substantially down from levels a few years ago, but unchanged from April. REALTORS® continued to report strong demand for REOs from investors. [Source: June REALTORS® Confidence Index Survey]

What Does this Mean for REALTORS®?
The major market problem now is lack of home inventory: problems with distresseed real estate have declined significantly. The reported”Shadow Inventory” and expected problems have not shown up in the market to any signficant degree—and the market could absorb a significant increase in inventory if it did show up. Right now the major market problem is the lack of home inventories for sale.

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. Michelle Bennett

    Do you have a more recent map of distressed properties. I thought I saw one for June, but it was not the right format. I need the one like may 2013.