NEW YORK CITY-According to RealtyTrac, foreclosed homes represented 24% of all second quarter sales in 2010 and the median price discount of foreclosed homes was over 26% when compared to homes not in the process of foreclosure.
Banks triggered foreclosures throughout the summer and will acquire 1.2 million homes in 2010, a record-high value when compared to 1 million in 2009. The number of properties in foreclosure increased 5% in Q2 2010 compared to that of Q1 2010 and decreased 20% compared to that in Q2 2009. For the full story, go to Reuters.
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