I am a little confused after reading ocrenter’s blog today.
My rudimentary understanding of sales stats was that foreclosure that are included are not actual sales but the house going back to the bank. However within the family of what we call foreclosures sales do we include foreclosures sold to non-banks? Now to me the latter is basically a real sale, whereas a house merely going back to the bank is not because it still needs to be listed for a (organic?) buyer.
Am I way off here, or are all the foreclosures included in the stats in the category actually the sale back to the bank?