The number of real estate-owned homes currently facing foreclosure is ‘staggering,’ according to Fitch Ratings, and disposal of distressed properties will depend largely on strategies taken by the Federal Housing Finance Agency during the next two years, National Mortgage News reported Dec. 15. Distressed sales currently make up 25 to 35 percent of total home sales and that number is growing, according to the ratings agency.
Foreclosures account for +/-10% of active listings in the RTP market and roughly the same for closings. I would expect the percentage to increase during 2012, but not to national levels.
Distressed sales currently make up 25 to 35 percent of total home sales and that number is growing, according to the ratings agency.
TARR Report 