By: BridgeTower Media Newswires//August 25, 2011
By: BridgeTower Media Newswires//August 25, 2011//
(Dolan Media Newswires) — Irvine, Calif.-based RealtyTrac reports that the volume of distressed home sales declined across the U.S. in the second quarter.
The total of homes in foreclosure or that were bank-owned which sold in the second quarter declined 11 percent compared with the second quarter of 2010. RealtyTrac’s statistics show a larger drop in Minnesota, which had a 17.3 percent decline in such sales compared with the second quarter of last year.
According to RealtyTrac, sales of homes that were either in some stage of foreclosure or bank-owned accounted for 31 percent of all residential home sales in the second quarter.