House foreclosures still ¿astronomically high¿: Six times higher than what they should be | Mail Online
While houses being sold under foreclosure may have recently decreased there are still six times more than what would be healthy – a figure industry experts say is ‘astronomically high.’
Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 per cent of all home sales— a share nearly six times higher than what it would be in a healthy housing market.
Foreclosure sales, which include homes purchased after they received a notice of default or were repossessed by lenders, hit the highest share of overall sales in a year during the first quarter, foreclosure listing firm RealtyTrac Inc. said today
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