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Distressed Sales at 14 Percent of Sales in Latest RCI Report

Distressed property sales remained at 14 percent of sales reported by REALTORS® in November 2013 [1]. This is substantially down from levels a few years ago when distressed property sales accounted for close to 30 percent of sales. This trend is in line with the broad decline in foreclosure inventory amid the recovery in home prices and government programs to assist financially strained homebuyers. Read more in the latest RCI report.

[1] NAR’s monthly REALTOR® Confidence Survey asks about the last sale for the month. This percent is computed by dividing the number of REALTORS® who reported that their last sale was a distressed sale by the number of REALTORS® who reported a sale for the reference month. To convert to percent, the ratio is multiplied by 100.