More Housing Woes
Seems like everyday there’s a new statistic out there that implies the housing market is already collapsing. Yesterday morning, a report from RealtyTrac reported that nearly 1 out of 3 first quarter home sales was a foreclosure.
The exact number is 31% – a number symbolizing the seriousness of the housing crisis. As a benchmark, typically 1-2% of home sales are foreclosures, I’d say that’s a significant difference.