NAR: Prices Up, Existing-Home Sales Down in March...!!!

Prices Up Sales Down

Distressed homes—foreclosures and short sales—accounted for 21 percent of March sales, down from 25 percent in February and 29 percent in March 2012, the NAR said. Thirteen percent of March sales were foreclosures, and 8 percent were short sales. Foreclosures sold for an average discount of 15 percent below market value in March, while short sales were discounted 13 percent compared with February when foreclosures sold for an average discount of 18 percent, while short sales were discounted 15 percent.