Distressed home sales falling nationwide, but not in all metros

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Distressed homes accounted for 8.8 percent of the total national home sales in April 2016, according to CoreLogic. Although this number is still not at the comfortable level America was enjoying pre-housing crisis, it’s a sign that things are leveling out in some parts of the country. According to CoreLogic’s records, distressed home sales have traditionally teetered around 2 percent of total sales — something the real estate data firm calls “normal” levels. A distressed home sale is either a short sale, foreclosed, or a real estate owned (REO) purchase. Shortly after the housing crisis in January 2009, distressed homes made up 32.4 percent of total sales, or one out of every three homes sold in that month. It took seven years to cut that number by 75 percent, but then again, it…


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