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Thursday, May 26, 2011

Foreclosures Count for 18.5% of All Wisconsin Home Sales!?

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Foreclosures count for 18.5% of all state home sales, report says

Foreclosures accounted for about 18.5% of all home sales Wisconsin in the first quarter of this year, RealtyTrac said Thursday.
That compares with 27.5% of sales nationwide, according to data from the Irvine, Calif.-based foreclosure-property online marketing firm.
The average sale price of Wisconsin homes in some stage of foreclosure - default, scheduled for auction or bank-owned - was $104,760, representing a discount of about 38% from the average sale price of homes that weren't in foreclosure.
That was worse than the national average foreclosure discount of 27%.
Wisconsin had 1,044 sales of foreclosed homes in the first three months of 2011, RealtyTrac said.
Nevada, California and Arizona posted the highest percentage of foreclosure sales, at 53%, 45% and 45%, respectively.

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