Real estate agents may have sold more existing homes and put an increasing number of houses under contract during the first three months of this year, but fewer of the transactions included distressed properties.
RealtyTrac announced in its Q1 2013 U.S. Foreclosure & Short Sales Report that 190,121 residences in some stage of repossession were sold in the first quarter. This reading shows a decline of 18 percent from the number sales of foreclosed houses observed during the previous three-month period and a 22 percent drop from figures recorded in the first quarter of 2012.
Additionally, the online marketplace for real estate records reported the amount of transactions of distressed properties seen during the recent quarter accounted for just 21 percent of all residential sales - showing a 4 percent decrease from the preceding period.
However, although licensed housing professionals may have sold less distressed properties lately, that doesn't mean they haven't been busy.
Consumers have been experiencing heightened levels of confidence during May, possibly due to improved conditions nationwide. The latest Thomson Reuters/University of Michigan Surveys of Consumers detailed an uptick in sentiment this month, pushing the final reading up to 84.5 from April's 76.4. As figures closer to 100 represent strong optimism, the recent data points toward substantially further strengthening in the coming months.