More proof has rolled in that foreclosed property sales are making up a steadily growing percentage of the U.S. real estate market.
RealtyTrac, a firm which specializes in tracking foreclosed properties, has reported that foreclosed homes accounted for 24% of home sales in the U.S. in the second quarter. The firm also reported that the average price for the foreclosed homes that sold was 26% below the average price for a home that was not foreclosed.
RealtyTrac also reported that foreclosed properties made up 55.66% of second-quarter home sales in Nevada , 43.19% of home sales in California, and 34.13% of home sales in Florida.
And the firm added that those numbers are only likely to increase.
--dmorrison@cutimes.com
