Significant price increases in bank-owned foreclosures are driving gains at the national, regional and local levels, helping home prices turn the corner with small quarterly and yearly gains. National average prices for bank-owned foreclosures (REO) were up 8.1 percent over a year ago on a median price-per-square-foot basis, according to May data from Clear Capital, and have outpaced non-REO price declines of -0.7 percent by 8.8 percentage points. “Strength in REO-only price trends as well as some early indications of price gains spreading from low tier sectors to the mid, and higher-priced homes.
Shelley Bryant, Broker/Owner, Villa Realty
Serving Lone Tree, Highlands Ranch, Greenwood Village and surrounding areas.