News Article
Foreclosed Homes In Trenton Selling At A Big Discount
By Phil Gregory, WBGO News
Trenton. January 26, 2012
The Trenton area is showing biggest drop in the nation in the average sales price of foreclosed homes.
The latest data from housing research firm RealtyTrac shows foreclosed properties in the region are selling at a 68 percent discount compared to other homes on the market.
However, RealtyTrac vice president Daren Blomquist does not expect that will drag down overall home prices.
“I think the good news for Trenton is even though there is this big discount on foreclosures, because the foreclosure sales only account for eight percent of the market they won’t have as much of an impact on non-distressed sales.”
Blomquist says housing prices in the local market would be affected if the foreclosure rate moves significantly higher.
© 2012 WBGO News
WBGO Newsroom
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