There is lots of housing news today as the National Association of Realtors just published their October home sales statistics. Across the country, home sales trended down in October as compared to September. (The Twin Cities may well be bucking this national trend).
The National Association of Realtors had initially estimated that distress sales (foreclosures and short sales) were accounting for 35-40% of the sales recently. However, they now believe they were under estimating the percentage. It’s now believed to be closer to 45% and certainly in some areas of California, Nevada, Arizona and Florida, distress sales are accounting for 50-70% of all transaction activity.
Calculated Risk has two excellent entries with lots of great looking charts.
