Los Angeles Had Highest Rate of Short Sales in Second Quarter of 2011

Los Angeles Short SalesLos Angeles had the nation’s highest number of housing short sales in this year’s second quarter, with Phoenix a close second, according to foreclosure data firm RealtyTrac.

Short sales totaled 9,145 in Los Angeles for the quarter, making up 25% of all sales with an average short-sale price of $350,237. Phoenix saw 8,434 short sales at an average price of $133,793, with short sales making up 23.4% of all sales.

RealtyTrac reported in August that U.S. short sales increased 19% in the second quarter to 102,407, up from 86,059 in the previous quarter.

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