Foreclosures Account For 24 Percent Of Quarter 4 Sales

RealtyTrac’s Year-End 2011 U.S. Foreclosure Sales Report shows homes in some stage of foreclosure accounted for 24 percent of all residential home sales during the fourth quarter of 2011. But though that represents an increase from the previous quarter it is 2.0 percent below the fourth quarter of 2010. Brandon Moore, chief executive officer of RealtyTrac, said foreclosure sales continue to be slowed by questions surrounding proper paperwork and procedures. For the year, total foreclosure-related sales were down 2 percent from the year before.