- Associated Press - Tuesday, June 24, 2014

ORLANDO, Fla. (AP) - Once again, Florida led the nation in short sales of homes in May.

The research firm RealtyTrac said Tuesday that more than 11 percent of all home sales in Florida were short sales in May.

A short sale takes place when an owner sells a home for less than the amount the owner owes on the property.

RealtyTrac also said that Florida had the nation’s second-highest rate of distressed sales, with almost a quarter of sales either short sales, foreclosure auctions or bank-owned sales. Only Nevada had a higher rate of distressed sales.

But the rate of distressed sales in Florida is declining from a year ago, when it was almost 27 percent.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide