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NAR says foreclosure sales way up from previous year

 The National Association of Realtors held its annual convention in Orlando earlier this month. One thing that’s always interesting to review is the statistics that NAR collects.

The statistics that they released at this convention were based on a massive survey that NAR conducted between July 2007 and June 2008. In all, NAR asked a number of questions of people who bought or sold property during that time frame. In all, 133,000 people were questioned.

One question asked of buyers was: Did you purchase a home that was in foreclosure? Six percent of the buyers responded affirmatively, and a whopping 38 percent said they considered buying a forclosure property but just couldn’t find the right one.

That six percent number is up from just one percent in the previous year.

It ought to be very interesting to see what that answer is next year.

I’ll be providing answers to more questions in the NAR survey in the coming days.

Tags: Foreclosures

This entry was posted on Thursday, November 20th, 2008 at 6:45 am and is filed under Foreclosures, Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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