The National Association of Realtors just released some statistics on Foreclosures purchases. The highlights are as follows:
- With high levels of foreclosures in many areas of the country, purchasing a foreclosed home has been a consideration for some buyers.
- Almost half of all buyers and 56 percent of first-time buyers considered purchasing a foreclosed home but did not, up almost 10 percentage points from last year. Most of these buyers could not find what they were looking for.
- A large share of also thought that the process was too complex or that the homes were in poor condition.
- Ten percent of all buyers ended up purchasing a foreclosed home, 4 percentage points more than last year.
Source: National Association of REALTORS® Profile of Homebuyers and Sellers 2009
Copyright National Association of REALTORS®, Reprinted with permission.
