2010 Tennessee Foreclosure Report

RealtyTrac reports in its 2010 Year End Foreclosure Sale Report including national statistics and data for Tennessee. Tennessee had 14,656 distressed property sales for 2011 which is down 34% from 2009. Distressed properties (including foreclosures) accounted for 19% of all home sales in Tennessee and the average sales price was $95,501. Distressed properties sold at discount of 39%. The average discount for Foreclosures was 40% and 27% for short sales.

Tennessee scores slightly worse than the national averages for most of the reported statistics. Ten states had discount rates higher that 35%. Twelve states had 25% or more of the sales were distressed properties. California, Nevada and Arizona all had higher than 57% of the sales distressed. While it is good that we are clearing the inventory of distressed propeties, the volume is likely to continue to be a drag on prices throughout 2011.

RealtyTrac 2010 year end foreclosure report

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