Foreclosure properties decline to 20% of American home purchases

Thursday, January 26, 2012

Foreclosure properties decline to 20% of American home purchases

Foreclosure and distressed sales fell to 20 per cent of U.S. home purchases in the third quarter of last year, according to RealtyTrac Inc.

Transactions involving bank-owned property and short sales, where lenders accept less than the amount owed, were down from 22 per cent of total home purchases in the second quarter and 30 per cent a year earlier, the Irvine, California-based data seller said in a statement.

Nevada had the biggest share of foreclosure-related sales of any state, at almost 57 per cent of total home purchases in the third quarter. The share of foreclosure sales in California was 44 per cent while Arizona was 43 per cent.

In Florida foreclosure sales have plunged from 39% of all transactions in the third quarter of 2010 to 19% of transactions, showing a steadily recovering market.

There will be a host of American exhibitors at A Place in the Sun Live, as well as a dedicated Florida Pavilion bringing together agents, developers and experts from the Sunshine State. The exhibition takes place at between the 30th of March- 1st of April 2012 at London Earls Court. The exhibition takes place at between the 30th of March- 1st of April 2012 at London Earls Court.

Advance tickets are available to book now, priced at two for £15 and include a FREE six-month subscription to A Place in the Sun magazine.

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