So-called “distressed” sales including foreclosures and short sales accounted for nearly half of all transactions tracked in Q109 by the National Association of Realtors (NAR).

The heavy ratio of distressed sales, which traditionally fetch about 20% less than non-foreclosures, pulled down median home prices in most markets. Of the 152 metropolitan statistical areas (MSAs) tracked by NAR, 134 — or nearly 87% — reported lower median existing single-family home prices.

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