REO/Short sales and inventories are not foreclosure rates.
"Normal" indicates properties that do not require third party approval for the transaction.
"REO" means Real Estate Owned, indicating bank or mortgage company ownership.
"Short" stands for Short Sale, where third party approval is required for the transaction. Percentages of sales and inventories add up across the rows, but may not total exactly 100% due to rounding.
The above material is my opinion and it is always recommended to seek qualified professional legal and financial advice when looking at your real estate sales and purchasing options.
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