Did You Know: Short Sales

January 26, 2010

By Sophia Stuart, Research Economist

 

 

 

  • Compared with the 2008 NAR Profile of Home Buyers and Sellers, there was a small decline in the percent of sellers reporting they sold their home as a short sale.
  • Three percent of sellers reported that their home sale was a short sale, compared with 5 percent in 2008.
  • A short sale is a transaction in which the seller’s lender agrees to accept less than the outstanding mortgage balance.
  • The South has the highest percentage of reported short sales at four percent.

 

 

Source: National Association of Realtors 2009 Profile of Home Buyers and Sellers

 

This is one in a series of commentaries by the Research staff of the National Association of REALTORS®. Read more commentaries >

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Fast Facts

Nearly one-quarter of first-time buyers are single females who purchased their first home on a median income of $47,400.
Source: 2008 NAR Profile of Home Buyers and Sellers.


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