REO Sales Diminish to Under 20% of Overall
lear Capital released a new market report Tuesday, tracking home prices through the end of November. Nationally, quarterly price gains were cut by more than half compared to readings from the month before. For November, home prices edged up just 1 percent.
Even with fewer fair market sellers put their homes on the market – which is typical during the winter season –Clear Capital says REO sales held steady at 18.4 percent of total sales. Even with the effects of winter unfolding, the company says REO saturation trends don’t yet sound any alarms. Should distressed sales hold around their current level for the next several months, Clear Capital says downward price pressure should be minimal –- but that’s barring any other outside economic stress. Read More ....
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