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Distressed Sales Continue to Fall, Confirm Market Strength

By Lawrence Yun, Chief Economist, NATIONAL ASSOCIATION OF REALTORS®

Mortgages with unrealistic underwriting standards and high levels of unemployment were major factors in causing an increase in delinquent mortgages and subsequent  foreclosures. However, sales of distressed property continue to decline—from a high nationally of 49 percent  in March of 2009 to 15 percent in July 2012. Here's why.

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