HI: Foreclosures Accounted for 10.5% of 2011 Home Sales

Hawaii Home Sales in 2011Some 10.5 percent of all residential sales in Hawaii last year were for homes involved at some level of the foreclosure process, according to a new report from RealtyTrac.

A total of 2,075 Hawaii homes in foreclosure sold in 2011, compared to 1,452 sales in 2010, an increase of 43 percent, RealtyTrac said.

Oahu had the greatest number of sales, 866, and the highest percentage increase from 2010 at nearly 57 percent. Foreclosure sales on the Big Island increased by 39 percent to 400 sales, while Maui County foreclosure sales rose by 34 percent to 661 sales, RealtyTrac said. Kauai foreclosure sales rose 24 percent to 148 transactions.

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