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According to RealtyTrac, the sale of bank-owned homes and homes in some stage of foreclosure are on the decline in Southwest Florida and nationwide.
Foreclosure-related sales accounted for 23 percent of all residential sales in the U.S. in the second quarter. There were 224,429 sales, down 12 percent from the first quarter and down 22 percent from a year ago. It?s the first year-over year decline seen after five quarters of increases.
In Cape Coral-Fort Myers, there were 776 foreclosure-related sales in the second quarter, down 7.4 percent from the first quarter and down more than 38 percent from a year ago. In Naples-Marco Island, there were 277 sales, up slightly from the previous quarter, but down nearly 33 percent year-over-year.
Nationwide, the average price for foreclosure-related sales rose in the second quarter, up 6 percent from the first quarter and up 7 percent from a year ago, the biggest annual increase seen since the fourth quarter of 2006.
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Tags: Bonita Springs real estate, Buying a Bonita Springs home, Buying a Naples home, Buying a Southwest Florida home, Buying an Estero home, Marco Island foreclosures, naples fl foreclosures, Naples Florida, naples florida foreclosures, Real estate Naples Fl, Southwest Florida Foreclosures, Southwest Florida real estate sales
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