Foreclosure homes made up nearly one-fourth of all residential sales in the second quarter, according to a report Thursday from RealtyTrac Inc, The Associated Press reports.
The foreclosure tracking outfit said 248,534 U.S. homes sold in some stage of foreclosure during the quarter, an increase of 5 percent from the previous quarter, but down 20 percent from a year ago.
Foreclosures on average sold at a 26-percent discount compared with properties not in foreclosure. That’s down from 27 percent in the first quarter.
Nevada, Arizona and California recorded the highest percentages of foreclosure sales in the quarter.
Foreclosure sales in Nevada were 56 percent of all sales in the state during the quarter. That percentage was 47 percent in Arizona and 43 percent in California.
Ohio, Kentucky and California had the best foreclosure bargains in the country, on average.
Ohio foreclosures sold at a 43-percent discount in the second quarter, while Kentucky foreclosures sold 41 percent below the average sales price of homes not in foreclosure. California’s discount was 39 percent in the quarter
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