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Housing Market Less REO Saturated

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Services for Real Estate Pros

Separate reports by Clear Capital and Barclays Capital confirm that during the May-July period bank-owned property continued to decline as a percentage of the total homes on the market.

Barclay’s report notes that REO units fell by .6% in May to 524,000 properties. The number of pre-foreclosures in serious delinquency fell by 2.3% to 4.02 million properties.

Clear Capital’s finding is that REOs are declining as a share of the market of recently sold property. The numbers dropped to 22.7% of the recently sold properties nationwide between May and July, a full 20% lower than in the first quarter of 2009.

Between May and July home prices gained... Click here to read the rest of this article about the reo market and investing in reos

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