On Friday, we talked about new evidence that the banks responsible for lender-mediated foreclosures and short sales are offering slashed prices immediately at the time of listing, leading to improvements in the percent of original asking price they receive. Today, we've got some complimentary evidence of this trend.
Check it:
Lender-mediated properties still take longer to sell, on average, than traditional homes. But the change in the last year shows that trend showing the potential of reversing. Traditional properties saw their average market time in the last year increase by 18.8 percent, while lender-mediated homes saw theirs decline by 2.0 percent.
Another indication that foreclosures and short sales are priced more aggressively downward than they used to be.
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