What Foreclosure Sales Say About Home Price Trends
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0 Left 0 Centered 0 RightOn Wednesday, we learned that the median sale price of an existing home fell to a level not seen since April 2002. The National Association of Realtors blamed recent price declines on deep discounts on rising distressed property sales, rather home values falling broadly. Today, we can begin to test this logic with the release of the foreclosure sales data for fourth quarter from foreclosure tracker RealtyTrac. Are distressed properties really to blame for price declines? Recall the median home s...