Sales of Bank-Owned Properties Climb

Sales of Bank-Owned Properties Climb (CNBC)

Ten percent of residential-property sales in November consisted of bank-owned properties. This is the third consecutive month of increased sales of bank-owned residences. . In a number of markets, overall sales volume is declining, because there are fewer financially distressed sellers. Although home prices are rising overall, foreclosed properties are seeing steeper discounts, and all-cash sales — typically done by institutional investors, rather than those intending to occupy a property — are on the rise