A few interesting observations appeared on the National Association of REALTORS® website regarding the distressed real estate market. In their commentary, they divide property sales into two categories:

• Distressed – discounted properties in need of repair or facing foreclosure/short sales.
• Non-Distressed – market value properties.

Estimating that the market for distressed sales ranges between 35-50% of existing home sales recently, they cite buyer confusion over the expectation of low prices. NAR members point out that buyers think:

• They can get deep discounts on the listing price.
• All sellers are in financial trouble.

Offering further explanation of this phenomenon, the commentary concludes that this gap between buyer and seller perceptions of the market is temporary and is already healing.

Get the full story at the National Association of REALTORS® website.

This entry was posted on Thursday, May 28th, 2009 at 1:47 pm and is filed under Real Estate Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.