RealtyTrac, a leading online real estate firm specializing in foreclosed properties, reported that homes in some stage of foreclosure made up 25% of real estate purchases in the third quarter of 2010.
The firm reported that almost 189,000 properties in some stage of foreclosure sold in the third quarter, a decrease of 25% from the previous quarter and 31% from the same period of last year.
But the firm pointed out that overall real estate transactions dropped in the fourth quarter so the percentage of transactions that were made up of foreclosed homes remained largely the same. Also, the drop in the sales of foreclosed homes merely reflected some of the same downward pressures faced by the rest of the real estate market.
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