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RealtyTrac: Foreclosures Account For 26% Of 1Q US Home Sales

Sales of U.S. homes owned by banks or in some stage of foreclosure accounted for a slightly larger share of total home sales in the first quarter compared with the same period a year earlier, according to market researcher RealtyTrac.

Residential properties linked to foreclosure–either in default, scheduled for auction or bank-owned–represented 26% of all home sales in the latest quarter, up from 25% a year earlier and 22% in the fourth quarter. Bank-owned homes are …

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