Distressed sales accounted for 10% of homes sold nationally in May

REO-bank-ownedBy Trey Garrison | HousingWire

Distressed sales—real estate-owned and short sales—accounted for 9.9% of total home sales nationally in May 2015, down 2.8 percentage points from May 2014 and down 1.7 percentage points from April 2015, according to CoreLogic.

Distressed sales shares typically decrease month over month in May due to seasonal factors, and this distressed sales share was the lowest for the month of May since 2007 when it was 5%.

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