Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales – a share nearly six times higher than what it would be in a healthy housing market.
Foreclosure sales, which include homes purchased after they received a notice of default or were repossessed by lenders, hit the highest share of overall sales in a year during the first quarter, foreclosure listing firm RealtyTrac Inc. said Thursday.
“It’s an astronomically high number,” said Rick Sharga, a senior vice president at RealtyTrac. “In a normal market, you’re looking at the percentage of homes sold in foreclosure to be below 5 percent.”
At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.
Full Story from Sign On San Diego
If you have a gay real estate story that you’d like to share with us, contact us at [email protected]
