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0 The Impact Of Foreclosures On Home Sales And Prices Is Much Worse Than People Realized

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The number of homes going into foreclosure is, by some measures, more than 300,000 a month. Buyers are taking advantage of that trend. RealtyTrac reports that “foreclosure homes accounted for 31 percent of all residential sales in the first quarter of 2010, and that the average sales price of properties that sold while in some stage of foreclosure was nearly 27 percent below the average sales price of properties not in the foreclosure process.”The most stunning information from the research is that “Total foreclosure sales in 2009 were up more than 1,100 percent from 2006 and up more than 2,500 percent from 2005.”

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