Distressed Homes Continue Shrinking

Short Sales represent 28% of the closings for Decemberfor. Lender Owned (REO) Sales represent 12% of the sales from last month. Total of Distressed Sales (Short Sales and REOs combined) accounted for 40% of the total sales for the month of December 2012.

Meanwhile, Normal, non-distressed sales are 60% of the last month. Regular resales are the main stream now.

Two years ago the distressed properties represented 69% of the total market and it has been shrinking since August 2011.

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