Homeowners Discouraged by Short Sales; Investors Picking up Slack

Posted To: MND NewsWire

While homebuyers are pursuing short sales with less enthusiasm because of the lengthy and unpredictable process, investors are finding them a new target of opportunity . Campbell/Inside Mortgage Finance HousingPulse Tracking Survey found that investors continued to boost their activity in the housing market during February and accounted for 24.2 of all housing transactions and 30.6 percent of short sales. Distressed sales accounted for 48.7 percent of all housing sales in February based on a three-month moving average represented by the HousingPulse Distressed Property Index (DPI), the second highest level recorded by the survey and the 25 th month in a row that the DPI has been above 40 percent. Since September the percentage of investors buying homes has increased by 3.3 percentage points…(read more)

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