Eight States Sold Distressed Homes at Less Than Half Price

Eight States Sold Distressed Homes at Less Than Half Price
Eight states reported a median sales price for distressed homes at less than half the sales price of non-distressed homes in August, according to a report recently released. RealtyTrac defines a distressed sale as "the sale of a residential property that is actively in the foreclosure process or bank-owned when the sale is recorded." Distressed sales accounted for 13.5 percent of all single-family residential home sales in the U.S.  See which distressed homes were sold at a discount of more than 50 percent, read more.