RealtyTrac reports that the home market continued to be burdened by foreclosure-related sales in 2011. Increasing from one in five home sales in the 3rd quarter of 2011 to nearly one in four in the 4thquarter, the sector accounted for just over 907,000 homes sold in the year. Additionally, sales of pre-foreclosure homes, or short sales, increased by 15.0% while the total for bank-owned properties (REO) decreased by 12.0%, and that they were sold at a respective average discounted price from non-foreclosed homes of 21.0% and 36.0%. The company anticipates foreclosure-related sales to increase in 2012 as the process banks use to release these properties on the market is hastened.
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