Foreclosed homes 26% of all sales in 2010
Foreclosure sales continued to account for ‘a lotta-lotta’ property sales.
They made up 26% of all home sales last year, down from 29% in 2009, but still higher than 2008 levels when foreclosures accounted for roughly 23% of all home sales.
Homes sold at 28% average discount
Buyers who acquired foreclosures in 2010 also benefited from a steep discount: foreclosed homes sold 28% below the average price of non-distressed properties. Foreclosure sales a year earlier were selling 27% below the average sales price.
And non-distressed (those not at foreclosure auctions or bank-owned) sales drop in 2010
While foreclosure homes increased in sales, the sales volume of non-distressed properties declined 19% between 2009 and 2010 and 27% from 2008.
Data source: NAR