Feb 17, 2012
MRIS: Short sales up, foreclosure sales down
17 Feb 2012
Posted by Andrew Kantor
The percentage of distressed property sales was down 8.1% from January 2011 to January 2012, according to numbers from MRIS, which covers a large portion of Virginia.
“Distressed sales” includes short sales and foreclosures, and those each told a slightly different story. Foreclosures (as a percentage of the total) were down 9.8% January to January, but short sales were up 1.7%.
Still, with traditional sales having made up two-thirds of the market, that’s good news in general. although the potential increase in foreclosures down the pike (the emergence of the “shadow inventory”) will probably have this chart looking a bit different in a few months.