Relevant:
- Foreclosures Rise to 24% of U.S. Home Purchases as Short Sales Increase
- Home Short Sales Jump in U.S. as Banks ‘More Realistic' on Property Market
- Foreclosure-Related Properties Decline to 20% of Home Purchases in U.S.
- Short sale dynamics -- short sales recorded the highest number of transactions in three years during the first part of 2012. What data do we have on short sales with second mortgages?
- 31 Percent of Q2 U.S. Home Sales in Some State of Foreclosure
2012-12-06 — bloomberg.com
Homeowners and banks are accelerating sales of properties for less than the amount owed as a U.S. law that gives them a tax break expires at the end of the year.
The transactions, known as short sales, increased by 35 percent in the third quarter from a year earlier, while sales of bank-owned homes dropped 20 percent, according to a report today by mortgage data seller Renwood RealtyTrac LLC. Together, they accounted for 41.5 percent of home purchases in the quarter.
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