July 12th, 2010 9:07 PM by Uletas Greene Carter
Foreclosures accounted for a third of all sales -- and sold at a nearly 30% discount -- during the first three months of 2010.
According to a new report from RealtyTrac, the marketer of foreclosed properties, 31% of all sales were foreclosures. And homebuyers purchasing those properties paid a whopping 27% less, on average, compared to sales of non-distressed homes.
These foreclosure sales include properties sold in short sales or after a bank repossession, known as REOs.