Foreclosure homes 26% of residential sales

The average sale price of such homes? $161,214, down 2% from the year-earlier quarter and a 27% discount on the value of... The average sale price of such homes? $161,214, down 2% from the year-earlier quarter and a 27% discount on the value of the average non-foreclosure home.

Although such sales increased quarter to quarter in 21 states, hinting at a bottleneck of unsold inventory, the overall trend suggests stabilization, RealtyTrac experts said.

California has the second-highest percentage of foreclosure sales in the country, with 47% of home sales falling into the category. Nevada is the highest with 56%; Georgia is third with 46%.

In March, the number of homes struggling through foreclosure held steady from February and fell from the year-earlier period, Santa Ana research firm CoreLogic said earlier this month.

By Tiffany Hsu

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