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Foreclosed Homes Continue to Weigh on Housing Market 

May 27, 2011By

Sales of bank-owned homes and those in some point of the foreclosure process accounted for 28 percent of all residential sales according to the Q1 2011 U.S. Foreclosure Sales Report from RealtyTrac.   The percentage is just a slight increase over the 27 percent of sales that these homes amounted to in the fourth quarter of 2010 and just slightly below the 29 percent from the first quarter of 2010. The average sales price of homes in a stage of foreclosure, in default, scheduled for auction or bank-owned was $168,321, which was a 1.89 percent decrease from the previous

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