Foreclosures account for 9.8% of La. home sales ?

Foreclosed residences accounted for nearly one-in-10 home sales in Louisiana during the second quarter of 2010, according to a survey. Irvine, Calif.-based RealtyTrac, which tracks foreclosures nationwide, says 739 Louisiana homes were sold under foreclosure from April through June. Those included homes already repossessed by lenders and those scheduled for an auction. These sales accounted for 9.8% of the homes sold in the state during that period, RealtyTrac says, adding that Louisiana homes that had been taken over by a lender sold at an average discount of 31.5% below the price of non-foreclosed homes that sold. Residences scheduled for auction took an average 18.6% price discount. Nationwide, RealtyTrac says foreclosed residences accounted for 24% of second-quarter home sales. Homes already taken by lenders took an average discount of 35%, while those scheduled for auction took an average discount of 13%. Foreclosure sales accounted for nearly 56% of second-quarter home sales in Nevada, the highest percentage in the United States.