Report: Distressed home sales fall

Source: The Business Journal

Distressed home sales dropped in Fresno and Madera counties in September compared to the same month in 2011, according to a report released from the California Association of Realtors on Monday. Madera County reported 60 percent of its total single-family home sales were distressed home sales. That is a drop from 65 percent in September 2011 but an increase from August 2012, when it was 49 percent. Fresno County’s distressed sales were 51 percent of its home sales—a decline from the 57 percent in September 2011 and a rise from 47 percent in August 2012. Kings County did not report distressed sales last year, but it experienced a significant drop from August to September. The county’s distress sales rate was 39 percent in September and 52 percent in August. Tulare County did not report distressed sales in September. The distressed sales rate for the state was 37 percent in September, 37.8 percent in August and 49.2 percent in September 2011.

URL to original article: http://www.thebusinessjournal.com/news/real-estate/3673-report-distressed-home-sales-fall

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