November 22, 2024 7:40 am
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CoreLogic: April distressed sales drop to lowest level since 2007

Distressed sales

distressed salesBy Brena Swanson | HousingWire

Distressed sales—real estate-owned (REO) and short sales—made up 11.1% of total home sales in April, down 3 percentage points from April 2014 and down 1.5 percentage points from March, the most recent housing report from CoreLogic (CLGX) said.

While distressed sales typically decrease month over month in April due to seasonal factors, this distressed sales share was the lowest from the month of April since 2007.

Broken up, REO sales accounted for 7.4% and short sales made up 3.7% of total home sales in April. Additionally, the short sales percentage fell below 4% in mid-2014 and has remained stable since then.

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