Foreclosures account for 12 percent of La. sales

AP News
Posted: Jan 26, 2012 1:21 PM
Foreclosures account for 12 percent of La. sales

Foreclosures made up for 12 percent of all Louisiana homes sold in the third quarter of 2011.

Foreclosure listing firm RealtyTrac Inc. said Thursday that the average sale price for the 507 foreclosed homes in the state was just over $113,000 _ a 39 percent discount on homes not in foreclosure.

Foreclosure sales include homes purchased after they received a notice of default or were repossessed by lenders.

RealtyTrac said the number of Louisiana foreclosure sales was down slightly from both the second quarter of 2011 and a year ago.

Foreclosures represented 20 percent of all homes sold in the United States in the July-September period. RealtyTrac said that's about four times more than at the height of the housing boom.