California Distressed Home Sales Continue Decline

Distressed home sales in California in April declined to their lowest level since February 2008, according to the California Association of Realtors.
Distressed sales fell to 24.4 percent, down from 27.9 percent in March and 45.8 percent in April last year.
CAR also said the share of lender-owned sales fell to single digit percentages for the first time since late 2007 – 9.2 percent in April, compared with 10.2 percent in March and 24.3 percent in April 2012.
In Sacramento County, CAR said the share of distressed single-family home sales in April was 32 percent, down from 37 percent in March and 60 percent in April 2012.

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