Metro DC Share of Distressed Sales 2010 10Posted: November 30, 2010
In October 2010, 30.8 percent of the existing home sales in the metro DC area were distressed (short sales or foreclosures). That was down from 32.7 percent in September 2010 and 36 percent in October 2009. The share of distressed sales on a monthly basis has been below the corresponding month in 2009 since May. Typically, the percentage of foreclosures exceeds the percentage of short sales (for example, 13 percent of October’s sales were short sales while 17 percent were foreclosures). The share reached a two-year high in January at 45.5 percent.
The District and Fairfax County have consistently posted the lowest share of distressed sales this year while Prince George’s and Prince William counties also consistently post the highest shares. Over half the sales in Prince George’s County were distressed thoughout the year.