Stacie Hartman

The Mortgage Blog of Stacie Hartman

Foreclosures 31 Percent Of All Sales in 1st Quarter

A total of 232,959 properties in some stage of foreclosure sold to third parties in the first quarter of 2010. According to RealtyTrac’s U.S. Foreclosure Sales Report, 31 percent of all residential sales were foreclosure homes and the average sales price of those homes was nearly 27 percent below homes not in the foreclosure process. Rick Sharga, senior vice president of RealtyTrac, said only 1 to 2 percent of home sales are foreclosures in a normal market. The report shows foreclosure sales decreased 14 percent from the previous quarter and 33 percent from the peak during the first quarter of 2009. More here, here, and here.

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