Distressed Sales Hit a New Low - Counsellors Title Agency

According to a new report issued by ATTOM Data Solutions, the share of third-party sales at foreclosure auctions reached a new high, comprising 28.5% of all completed foreclosure auctions in 2016, as compared with 23.5% in 2015.

The ATTOM report found that the remaining 71.5% went back to the foreclosing lender. A total of 96,438 single-family homes were sold to third-party buyers at foreclosure auctions in 2016.

The report indicated that distressed sales dropped to 16.2% of total market sales, which is the lowest point since 2007.

Fast Stats
Bank-owned sales dropped down to 8%, down from 10% in 2015
Short sales decreased to 5.5% of market sales in 2016, down from 6% in 2015
Distressed sales hit a nine-year low
Home prices have reached a 10-year high
Home sellers realized their biggest average profits since purchase nationwide in 2016
Distressed property sellers benefited from the hot seller’s market, with a record-high share of homes at foreclosure auction being purchased by third-party buyers