The foreclosure headlines today are that one third of all home sales in Q2 were of distressed properties (foreclosures and short sales), according to a new report from online foreclosure sale and data site RealtyTrac.
The discount on those homes from comparable non-distressed properties was 32 percent.
What the headlines don't say is that while the percentage of the market that's distressed rose from a year ago, from 26 to 31 percent, the actual number of distressed sales fell. The share only went up because the number of non-distressed sales fell, leaving the total pool smaller.
And there's the biggest problem in housing today.