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TitleFAQ: NAR home price - Distressed
AuthorKarl Zandi
Question

Does the NAR home price include distressed (foreclosure and REO) sales?

Answer

The National Association of Realtors (NAR) data is reported by real estate agents, and is not limited to "arms-length" transactions data. It will include foreclosure sales, if the foreclosed property was listed by a real estate agent; but not all foreclosure sales are so listed.

According to the NAR, in 2008-2009 about 45-50% of the sales they recorded were foreclosure sales.

("Distressed" sales include foreclosure proceedings and REOs, or "real estate owned" by banks after foreclosures. Some state associations of Realtors now break-out distressed sales.)



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