Loss seen on nearly 1 in 3 June sales

Home values essentially held steady from May to June as the volume of sales picked up by 3.8 percent, according to an index compiled by real estate search and valuation site Zillow.com.

But nearly one in four owners of single family homes (23 percent) were "underwater" during the second quarter -- owing more on their mortgage than their homes were worth -- and foreclosure re-sales made up 22 percent of all home sales in June, Zillow said.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.