NEW ORLEANS (AP) — 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, said Thursday that 739 Louisiana homes were sold under foreclosure from April-through-June. Those included homes already repossessed by lenders and those scheduled for an auction.
That accounted for 9.8% of the homes sold in the state during that period, RealtyTrac said.
RealtyTrac said Louisiana homes that had been taken over by a lender sold for an average 31.5% discount below the price of non-foreclosed homes that sold. Residences scheduled for auction took an average 18.6% price discount.
Nationwide, RealtyTrac said that 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. That was followed by Arizona with 47% and California with 43%.
RealtyTrac said Ohio foreclosures took the largest discount: 48% for repossessed homes and 24% on pre-foreclosures.
