Industry News

REOs comprise nearly 20% of homes on market

RealtyTrac says foreclosure inventory now tops 750,000
Published on Aug 14, 2008

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by CareyBot

Nearly one in five homes for sale in the United States are properties repossessed by lenders, data aggregator RealtyTrac reported today, as foreclosure-related filings rose 8 percent from June to July, and 55 percent from a year ago.

Foreclosure-related filings -- which include default notices, auction sale notices and bank repossessions -- rose to 272,171 in July, or one filing for every 464 U.S. homes.