>Foreclosure sales slow, but remain very highHuge backlog of distressed properties means any housing recovery is a long way away
By ALEX VEIGAupdated 5/26/2011 11:41:32 AM ET
LOS ANGELES -Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales — a share nearly six times higher than what it would be in a healthy housing market.
Foreclosure sales, which include homes purchased after they received a notice of default or were repossessed by lenders, hit the highest share of overall sales in a year during the first quarter, foreclosure listing firm RealtyTrac Inc. said Thursday.
https://www.msnbc.msn.com/id/43175612/ns/business-personal_finance/
