According to RealtyTrac’s Q2 2011 U.S. Foreclosure Sales Report, sales of homes in some stage of foreclosure or bank ownership accounted for 31 percent of all residential sales during the second quarter, which is down from 36 percent in the first quarter. James Saccacio, chief executive officer of RealtyTrac, said the report was good news for well-positioned buyers and investors, as well as distressed homeowners looking to sell and lenders saddled with large portfolios of delinquent loans. A 19 percent surge in pre-foreclosure sales indicates the housing market is starting to focus on clearing distressed inventory more efficiently, according to Saccacio. More here and here.
