Bank-Owned Home Sales at Five-Year Low
Irvine, CA, May 30, 2013 -- Sales of bank-owned properties in the first quarter hit their lowest level since early 2008, according to tracking firm RealtyTrac.
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There were 101,371 distressed sales, which accounted for 21% of the total market. That's down from 25% from a year ago.
During the peak of the foreclosure crisis, 45% of all homes sold nationally were foreclosures.
Short sales fell 35% in the first quarter from a year ago.