Foreclosure sales fall to lowest level since 2008

Sales of bank-owned properties last quarter hit their lowest level since early 2008, according to a new report.

There were 101,371 distressed sales during the first quarter of 2013, RealtyTrac said Thursday. That accounted for 21% of the total market, down from 25% a year earlier.

During the height of the foreclosure crisis in early 2009, 45% of all homes sold nationally were foreclosures. In many locations, such as California’s Central Valley, foreclosures weren’t just a big share of the housing market, they were the entire the housing market.

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