REOs Still Increasing

From the WSJ: Foreclosure Rate Outpaces Sales by Lenders Foreclosures are occurring at the highest rate in decades — and as a result, lenders are acquiring homes faster than they can sell them off.Last year, sales of foreclosed homes rose just 4.4%, while the supply more than doubled, according to First American CoreLogic….This year, sales of homes owned by lenders will likely total 480,000 properties, or 10% of all sales of previously occupied homes this year, [Mark Zandi, chief economist of Moody’s Economy.com] estimates. …
Original Source

  25 March, 2008| housingblogs | @ 6:08

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