Aug 15, 2012
Distressed sales drop yet again in MRIS territory
15 Aug 2012
Posted by Andrew Kantor
The latest figures from MRIS (whose MLS covers much of Virginia) show that distressed homes — sold as either a foreclosure or short sale — made up a significantly smaller percent of the market than a year ago.
Total distressed sales went from 25.2% of the market in July 2011 to 20% in July 2012. Interestingly, the percent of short sales was up slightly (10.2% to 11.3%), while foreclosures dropped dramatically (from 15.1 to 8.7%).