Distressed Sales Accounted for 8% of Homes Sold in May

Distressed Sales Accounted for 8% of Homes Sold in May

Distressed Sales Accounted for 8% of Homes Sold in May

Digging deeper in to May’s sales numbers, Corelogic finds that distressed sales (including  REO & short sales) accounted for 8.4% of total home sales nationally in May 2016, down 2.1 percentage points from May 2015 and down 1 percentage point from April 2016.  Breaking that down further,  REO sales accounted for 5.4% and short sales accounted for 3% of total sales.  The REO sales share was the lowest for the month of May since 2007.  The short sales share fell below 4% in mid-2014 and has remained in the 3-4 percent range since then.

Key takeaways:

  • Of total sales in May 2016, distressed sales accounted for 8.4% and real estate-owned (REO) sales accounted for 5.4%
  • The REO sales share was 22.5 percentage points below its peak of 27.9% in January 2009
  • Distressed sales shares fell in most states, including the oil markets

distressed sales May

Click here to read the full story on Corelogic.com.

2019-03-05T23:44:09-07:00September 2nd, 2016|Uncategorized|