But that’s only the beginning. Well over one-quarter of all home sales in January were “distressed sales” -- foreclosures, short sales, etc. The exact figure, as calculated by First American CoreLogic, is 29% -- a monthly high last reached in January 2009.
Note the correlation between distressed sales and home prices. Both figures have once again started going in the wrong direction for the National Association of Realtors.
It’s too soon to say this is a discernable trend. But whatever happy medium the housing market found with government assistance last summer appears to be in jeopardy once again.
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