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Distressed Sales Still on the Downtrend: 11 Percent of Sales in June 2014

With rising home values and fewer foreclosures, the share of distressed sales to total residential sales continues to be on the downtrend, according to the June 2014 REALTORS® Confidence Index. Distressed sales accounted for 11 percent of sales in June: 8 percent of reported sales were foreclosed properties, and about 3 percent was short sales.

In December 31, 2013, the tax break from mortgage debt forgiven as a result of a short sale expired. About 12 percent of REALTORS® reported that they have experienced a case where a seller decided not to sell due to the tax implications.

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