Foreclosures made up a smaller slice of all U.S. homes sold in last year’s third quarter, as banks delayed placing properties for sale and home sales slowed.
Despite the decline, foreclosures still represented 20 percent of all homes sold in the July-September period – about four times more than at the height of the housing boom, foreclosure listing firm RealtyTrac Inc. said Thursday.
Foreclosure sales include homes purchased after they received a notice of default or were repossessed by lenders.
In 2005 and 2006, when housing was still flying high, foreclosures made up less than 5 percent of all home sales, the firm said. They peaked in 2009 at 37.4 percent.
As a portion of all homes purchased, foreclosure sales declined in the third quarter from 22 percent in the April-June period. They were down from 30 percent in the
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