Foreclosure Auction and REO Sales Picked up Pace

Foreclosure Auction and REO Sales Picked up Pace In October, U.S. Residential and Foreclosure Sales Report, which shows that U.S. residential properties, including single-family homes, condominiums and townhomes, sold at an estimated annualized pace of 5,649,965—a 2 percent increase from the previous month and up 13 percent from October 2012.

The national median sales price of all residential properties—including both distressed and non-distressed sales—was $170,000, unchanged from September but up 6 percent from October 2012. It was the 18th consecutive month median home prices have increased on an annualized basis.
Read more: Experts Say, Principal reductions perform better than rate decreases: When helping struggling home owners, principal reductions on mortgages tend to help them avoid foreclosure more than reducing the interest rates on the loans.