Foreclosure Sales Last Year Lowest Since 2007
Irvine, CA, Feb. 28, 2013 -- Last year had the fewest foreclosure-related sales of homes since 2007, according to tracking firm RealtyTrac.
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However, the levels were still far higher than before the housing market collapsed.
Nearly 950,000 U.S. properties in some state of foreclosure or owned by a bank were sold in 2012, down 6% from the prior year, RealtyTrac said.
By comparison, there were about 46,000 foreclosure-related sales in 2005.
Foreclosure-related sales made up about 21% of all U.S. residential sales last year, down from 23% in the prior year, but much greater than about 1% in 2005.
Also, properties sold as short sales, but not in foreclosure, rose 4% from the prior year.
Overall, distressed sales accounted for 43% of residential sales last year, according to RealtyTrac.