Distressed and Cash Sales Hit A Nine-Year LowThu November 03, 2016
Cash and distressed sales hit a nine-year low in the third quarter, just as sellers realized nine-year highs, according to the ATTOM Data Solutions Q3 2016 U.S. Home Sales Report.
ATTOM found that REOs, foreclosures, and short sales accounted for 13 percent of all U.S. single family home and condo sales in Q3. That’s down from 15 percent in Q2 and 16 percent a year ago. It’s also the lowest share of distressed home sales since 2007, when distressed sales accounted for 12.3 percent of all home sales. Distressed sales peaked at 44 percent in 2009.
Read more on DS News