Inland Empire Distressed Sales Drop

Distressed home sale accounted for 10.7 percent of all single-family home sales in the Inland Empire in December, Irvine-based CoreLogic reported Wednesday.

Since February 2009, when distressed sales in Riverside and San Bernardino counties reached a peak of 76.3 percent, the region’s share of distresses sales have dropped 65.6 percent.

That’s the largest improvement from peak rate of any major market in the United States, CoreLogic reported.

Nationally, distressed sales made up 10.3 percent all home sales during December. A distressed sale is one in which a property is sold quickly, and below market value, so the seller can raise money.