Distressed sales decline in Florida
Hello its Foster Algier here, AKA Godfather of wholesaling. I just wanted to share some useful facts on the subject of inventory.
Distressed sales accounted for 17.5 percent of all home sales in Florida in February, according to real estate researcher CoreLogic. That was the fourth-highest share of distressed sales in the country, and well above the 11.1 percent U.S. average.
But it was down from 22 percent over the year. Distressed sales — short sales and properties owned by lenders — peaked nationwide at 32.4 percent in January 2009. The Tampa-St. Petersburg-Clearwater region reported a 19.1 percent share of distressed sales, third highest among the nation’s 25 largest metro areas.
-- Herald Tribune