St Paul, MN: Sales of bank owned foreclosed homes dropped to a 5-year low according to figures compiled by RealtyTrac, Inc.
This is clear evidence, that while not over, the nation’s foreclosure woes are easing and the housing market recovery is gaining momentum.
Sales of bank owned homes in the January – March 2013 quarter fell 16% from the previous quarter, and were down 23% from the same quarter in 2012. The last time bank owned sales were lower was the first quarter of 2008, at the beginning of the whole housing mess.