Calculation of Foreclosure Statistics Q?

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Priced_Out_IT_Guy_IHB

Priced_Out_IT_Guy_IHB

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Are repossessions by banks tallied as a sale by RE market tracking companies such as Data Quick? I.e. after a home goes through foreclosure, isn't purchased at the auction, and goes back to the lender.



I was just wondering if the 50% of home sales that consist of foreclosed properties are bank owned sales only or not.
 
[quote author="bigmoneysalsa" date=1227273374]Foreclosure auctions are not counted as sales by DataQuick. Sales of recently foreclosed bank owned homes (REOs) are.</blockquote>


Yup.
 
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