Foreclosures on the Move

According to the Chicago Tribune, RealtyTrac reports of the homes sold in the first quarter of 2012 nationwide, 26 percent were foreclosed properties, an eight percent increase over 2011. While last year short sales accounted for nine percent of homes sold, this year that has increased to 12 percent in the first quarter. The second quarter of this year saw foreclosure filings drop from 608,000 Q2 2011 to 558,000 this past second quarter. Since 2008 some 3.6 million homes have entered the foreclosure process, and as has learned, at least that many more may be slated for a similar fate.

(Photo credit: MerchantCircle)

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