IE Business Daily Business news for the Inland Empire.
Distressed sales accounted for 7.8 percent of all home sales in the United States during June, while real estate-owned sales accounted for 4.9 percent of those transactions, according to data released Thursday.
Bank-owned sales were 23.9 percentage points below their peak of 27.9 percent in January 2009, Irvine-based CoreLogic reported in its monthly analysis of distressed home sales.
Compared with June 2015, distressed sales were down 2.2 percent nationwide.
In the Inland Empire, distressed sales – the sale of an asset, often for a loss and usually so the owner can raise money quickly to pay debts or escape foreclosure – made up 9.4 percent of all home sales in June.
Of all U.S. markets, that was the largest drop in distressed sales from peak value, which in the Inland Empire was 76.5 percent in February 2009, CoreLogic reported.
