31% of Q1 Ill. home sales were foreclosures - KFVS12 News & Weather Cape Girardeau, Carbondale, Poplar Bluff

31% of Q1 Ill. home sales were foreclosures

CHICAGO (AP) - Almost 31% of homes sold in Illinois in the first quarter of the year were in foreclosure or owned by a bank.

The statistics were released Thursday by Irvine, Calif.-based RealtyTrac. The company says the total number of foreclosures sold from January through March totaled 8,592, and the average sale price was $127,530.

The number of foreclosure sales was 22% higher than during the same period last year, and almost 12% higher than the last three months of 2011.

Nationally, foreclosure homes accounted for 26% of all residential sales in that same period.

The highest percentage of foreclosure sales were in Nevada, California and Georgia.

RealtyTrac says lenders also are approving more aggressively priced short sales.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly