C.A.R. recently reported that the share of short sales in California rose to its highest level in three years since C.A.R. began tracking this statistic. Of the distressed properties sold statewide in January, 23.8 percent were short sales, up from the previous month’s share of 22.2 percent and up from last January’s share of 22.2 percent.
Home prices decline for sixth consecutive month
CoreLogic’s January Home Price Index showed that home prices nationally, including distressed sales, declined 3.1 percent compared with the previous year and 1 percent compared with the month prior, marking the sixth consecutive month of declines.
Excluding distressed sales, year-over-year prices declined 0.9 percent in January 2012 compared with January 2011, but posted a month-over-month gain, rising 0.7 percent in January. Distressed sales include short sales and real estate owned (REO) transactions.
from C.A.R. Newwsline