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Home | Tag Archives: Short Sales

Tag Archives: Short Sales

Why Are Discounted Distressed Sales Not Pulling Down Non-Distressed Home Prices?

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When distressed properties account for a large share of all residential home sales, it tends to pull down the prices of non-distressed homes, since foreclosed and REO properties typically sell at a discount to non-distressed homes. Data released by CoreLogic shows that as of late, however, the still-high distressed sales share is not causing non-distressed prices to fall.

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Distressed Sales Continue Descent Toward Historical Norms

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The distressed sales share, which includes sales of REO properties and short sales, was reported to be 9.3 percent for August 2015, down 2.3 percentage points from August 2014. August’s distressed sales share of 9.3 percent is the lowest since September 2007 and is less than a third off from its peak in January 2009, when it made up nearly a third of total residential home sales (32.4 percent).

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