Charlotte housing market sees decline in distressed-property activity
Published: July 8, 2011
Time posted: 11:11 am
Tags: Charlotte Regional Realtor Association
June brought a decline in active listings of distressed, or lender-mediated, homes.
The Charlotte Regional Realtor Association said today that such listings have fallen to around June 2009 levels.
The share of new distressed-property listings decreased from 23.1 percent in June 2010 to 16.1 percent in June 2011.
The share of closed sales that were lender-mediated remains relatively unchanged at 31 percent, “an indication that bank-mediated homes are selling faster than they are entering the market,” the CRRA said.
In April, the CRRA began using a new reporting tool to analyze the volume of distressed properties in its multiple listing service.