Home Prices

Expect Short Sales and Deeds in Lieu Under HAFA to Drive Prices Down

Posted on Friday, April 9, 2010

Short sales made up 8% of all sales in January, up from 7% in December and 5% a year ago. Once banks are geared up to process HAFA short sale requested, the numbers will increase significantly.

That means home prices will go down. In January, the average non-distressed sale price was $247,700, while the distressed average price was $161,600. REOs averaged $141,900, compared to $215,300 for short sales.

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