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Charlotte distressed home sales, inventory decline

For the seventh month in a row, the amount of distressed homes on the market and the sales of such homes fell in the Charlotte area in July, the Charlotte Regional Realtor Association said today.

In July, the amount of new listings of distressed properties dropped to 19.9 percent from 24.5 percent in July 2010.

Over the same period, the share of closed sales that were lender-mediated dropped to 26.3 percent from 35.7 percent, resulting in a larger amount of distressed properties selling than entering the market.

As of the first week of August, there were 1,203 lender-mediated properties on the market.

One comment

  1. The phrase “resulting in a larger amount of distressed properties selling than entering the market” may not be entirely accurate. You can’t make that determination by looking at percentages alone. You would need to see the total number of distressed sales and compare that to the total number of distressed homes entering the market. One percentage might be bigger than another, but it could just be a bigger slice of a smaller pie.

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