Foreclosure Sales At 31 Percent of All U.S. Home Sales in First Quarter of 2010
Foreclosure homes accounted for 31 percent of all residential sales in the first three months of 2010, according to a report just released by RealtyTrac, the online marketplace for foreclosed properties.
In its first U.S. Foreclosure Sales Report, the average sale price of foreclosed properties was almost 27 percent below that of homes not in the foreclosure process.
Florida was one of eleven states where foreclosure sales accounted for at least one-third of all residential sales in the first quarter of 2010. Almost 233,000 foreclosure and bank-owned homes sold in the U.S. during the first three months of the year, down 14 percent from the previous quarter and down 33 percent from the first quarter of 2009.
The RealtyTrac report showed that foreclosure sales in the U.S. have increased a whopping 2500 percent from 2005 to 2009, when they accounted for 29 percent of all U.S. home sales. During 2009, more than 1.2 million home sales were properties in foreclosure.
According to the RealtyTrac website, there are currently over 11,500 properties in the process of foreclosure in Duval County, including 5,660 defaults, 1,575 auction properties, 3,470 bank-owned properties and 915 MLS homes for sale.
If you are a Florida homeowner facing possible foreclosure and need to know about all your options, contact our Jacksonville, Florida foreclosure law firm.
Greg Gilbert
Keith Maynard
