Posted by: Nathan Gruwell | March 30, 2011

Data shows market for short sales

California’s pending home sales increased during February, and “distressed” homes represented a majority of those deals, the California Association of Realtors reported Monday.

Realtors’ statistics show bank-owned properties and short sales – referred to as “distressed” homes – represented 56 percent of homes sold last month. The proportion was much higher in San Bernardino County, where distressed properties accounted for 76 percent of February’s home sales.

California Association of Realtors analysts anticipate distressed sales will continue to represent the majority of home sales until 2012 at the earliest.

Taken from article in the Inland Valley Daily Bulletin by Andrew Edwards, Staff Writer
for the rest of this interesting article click here


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