What percentage of all home sales will be short sales in the coming months?
What about in one year? 40%? 50%?
Short sales rose from 17 percent in February to a record-high 19.6 percent in March. This is a chart that was included in the Housing Pulse Survey from Campbell Surveys and Inside Mortgage Finance:
Pay close attention to the sudden decrease in Damaged REO properties (red line) compared to short sales (blue line), which is drastically on the rise.
How would you interpret these results?
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According to Core Logic, over half of all home sales in Michigan (62.8%), Nevada (60.3%), and Arizona (51.5%) are distressed sales. Rounding out the top 10 were California, Utah, Idaho, Georgia, Florida, Colorado, and Hawaii.
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