Distressed home sales accounted for 12% of August sales, down from July and the lowest level since 2008. Foreclosures made up 8% of distressed sales and sold for an average 16% below market value, while short sales were 4% and discounted 12%. Distressed properties accounted for 5.4% of third quarter 2013 sales, sharply down from 13.5% in the third quarter of 2012, and sold for 6% below market transactions.

1. Distressed Sales
Rick J. Klein
435 647 9055
NAR: Distressed homes accounted for 12% of August sales, down
from 15% in July and the lowest level since tracking began in
October 2008. They were 23% in August 2012. 8% of distressed
sales were foreclosures and 4% were short sales. Foreclosures
sold for an average discount of 16% below market value in July,
while short sales were discounted 12%.
GPC Distressed properWes accounted for 5.4% of Q3 2013 sales
down sharply from 13.5% in Q3 2012. Distressed sales sold for
6% below market transacWons.