Newspaper article Sarasota Herald Tribune

Distressed Sales Continue Decline

Newspaper article Sarasota Herald Tribune

Distressed Sales Continue Decline

Article excerpt

HOUSING MARKET

Distressed sales, which include lender-owned real estate and short sales, accounted for 10.3 percent of total home sales nationally in December, data provider CoreLogic reported.

That was down from 13.8 percent December 2014.

Florida ranked third in the country with an 18.5 percent share of distressed sales. Maryland was first at 20.2 percent, followed by Connecticut at 19.2 percent.

Within the distressed category, real-estate-owned (REO) sales accounted for 6.9 percent and short sales accounted for 3.4 percent of total home sales in December. The REO sales share was the lowest for December since 2006. The short-sales share fell below 4 percent in mid-2014 and has remained in the 3 to 4 percent range since then.

At its peak in January 2009, distressed transactions totaled 32. …

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