If you need assistance, please call 317-590-2901

Foreclosure Prices Rise, Highest Increase Since 2006

Saturday, September 1, 2012   /   by Carlos J Higareda

Foreclosure Prices Rise, Highest Increase Since 2006





Foreclosure sales prices rose 6 percent in the second quarter and were up 7 percent year-over-year, RealtyTrac reported this week. This marks the largest annual increase in foreclosure-related sales prices since 2006.


During the second quarter, the average foreclosure-related sales price was $170,040.


Still, foreclosure and bank-owned homes sold at an average price that was 32 percent lower than the average price of a non-foreclosure home, RealtyTrac reports.


Meanwhile, the gap between REO sales and short sales continued to narrow during the second quarter. REO sales outnumbered pre-foreclosure sales by 9,833 — the smallest difference since the third quarter of 2007.


The number of short-sale transactions rose 18 percent year-over-year, accounting for 14 percent of all sales during January through May time period, RealtyTrac reports.


“The second-quarter sales numbers provide solid statistical evidence of what we’ve been hearing anecdotally from real estate agents, buyers, and investors over the past few months: There is a limited supply of available foreclosure inventory to choose from in many markets,” says Daren Blomquist, RealtyTrac vice president. “Given this shortage of supply and the seasonally strong buyer demand in the second quarter, it’s no surprise that the average foreclosure-related sales price increased both on a quarterly and annual basis.”


Source: RealtyTrac



eXp Realty
Carlos Higareda
719 Virginia Ave, Suite 101
Indianapolis, IN 46203
317-590-2901
317-881-3700

The source of the Licensed Listings is BLC® listing service. The Licensed Listings are confidential information of BLC® listing service. The BLC® listing information is provided by the Metropolitan Indianapolis Board of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2020 Metropolitan Indianapolis Board of REALTORS® All Rights Reserved. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
This site powered by CINC: www.cincpro.com