Topic: Real Estate, Mortgage, California
Industries: Real Estate
Tags: Real Estate, Mortgage, Short Sales, Foreclosures, Home Purchases
Date: April 18, 2012
Short sales pass foreclosures
Servicers completed more short sales in January than the sale of foreclosed homes, according to a story in Bloomberg.
Short sales accounted fro 23.9% of home purchases that month, compared to 19.7% of foreclosure purchases. The story cites Lender Processing Services data.
Jonathan Weiner, VP of LPS Applied Analytics, said short sales could help home values bottom faster. He told Bloomberg the baseline scenario for prices should reach a low-point at the end of 2012.