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Monday, March 21 2011 - By Kay Lynn Clay
Distressed sales in Dane County, Wisconsin almost reached record highs.
The distressed property index in Dane County, Wisconsin, for February was the third-highest rate ever recorded, Dane County Market reports.
Citing data from the South Central Wisconsin MLS, the source states sales for homes in the area in or near foreclosure grew by 24.7 percent in February 2010 to 30.8 percent last month. While the figure is high on the county's all-time chart, it is actually a decrease from January, in which 31.1 percent of all sales involved distressed properties. According to the index's co-creator, Dan Miller, the index's values will remain above 25 percent during the next year, as the number of foreclosure filings are expected to remain high while home and condo sales are projected to be weak. While these figures are high in relation to Wisconsin, a recent report regarding the California home market revealed that distressed sales represented 40.1 percent of February sales. More News |
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