I suspect flawed reporting: “During the second quarter of this year, the proportion of foreclosure sales shot up to 9.7 percent of all resales”
I see foreclosures of Apr – 604, May – 614, Jun – 738.
If foreclosures a 9.5% of sales that means over 6000 resales a month.
Either the reporter can’t do math, or the reporter means foreclosures reselling were only 9.5% of the sales, even though foreclosures that are unsold really are closer to 20-25% of the resale volume.
