RealtyTrac, the online firm which tracks distressed real estate throughout the U.S., is reporting that sales of foreclosed homes made up a significantly smaller percentage of real estate sales in the third quarter of 2011 from both the prior quarter and the year before.
Sales of real estate that was in some part of the foreclosure process, from having received a notice of default through to being owned by a lender, were only 20% of real estate sales in the third quarter of 2011. This was 11% below the revised figure for the second quarter of 2011 and 5% below the percentage in the third quarter of 2010.
Sales of foreclosed have been made up a large percentage of the real estate market for months as investors and new home buyers moved in to capitalize on foreclosed property's lower prices, experts have said.
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