REO Properties and Short Sales Have Significant Market Share of 1Q 2011 Existing-Home Sales

The National Association of Realtors® released data this week reflecting that bank-owned homes and pre-foreclosure short sales “made up 39 percent of the first quarter’s existing-home sales” for 2011. Repeat buyers claimed 47% of the distressed property sales while first-time homebuyers claimed 32% and investors claimed 21%. http://bit.ly/kivxDh

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