Sep
27

John Burns: 40% Of All Home Sales through 2012 will be Distressed Sales

By
– Housingwire.com

A look at stories across HousingWire’s weekend desk…with more coverage to come on bigger issues:

Sales of distressed properties will peak in 2011 at 2.3 million transactions before falling to more normal levels at 850,000 in 2016, according to a report from John Burns Real Estate Consulting.

Because lenders are transferring more of the shadow inventory of foreclosed and defaulted mortgages into real property ready for the market, analysts at John Burns estimate these properties will account for more than 40% of the all resale activity through 2012.

Many market analysts have predicted home sales and prices to trend downward again without the homebuyer tax credit. How fast and deep the market falls depends on how financial institutions manage the flow of these foreclosed and REO homes onto the market.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE

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