Thursday, September 30, 2010

Foreclosed home sales climb slightly in Utah; well below national figures

Sales of foreclosed properties in Utah climbed slightly during the last quarter, according to a report released Thursday. The RealtyTrac Q2 2010 U.S. Foreclosure Sales Report showed that sales of homes in some stage of foreclosure rose 2.41 percent in the Beehive state from the first quarter of 2010 and increased 2.49 percent over the same 3-month period last year. The minor increases were well below the national average, which saw foreclosure sales jump 4.86 percent from first quarter

As a percentage of sales, foreclosure sales accounted for nearly 19 percent of all sales in Utah for the quarter, compared to 24.17 percent nationwide. The average foreclosure sales price of $212,831 for Utah was much higher than the national price of $174,198, the report showed. Buyers bought homes at a discount of more than 26 percent on average nationwide, but just 1.55 percent for foreclosed properties in Utah. The Deseret News

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