Big Discounts on Foreclosures Fading, Economist Says
OtherHome buyers may not get as great of a deal on a foreclosure as they once did, according to Paul Diggle from Capital Economics in a new report. Foreclosure starts are falling and the inventory of foreclosures has been decreasing, which has caused the discount on foreclosures to lessen. The discount on foreclosed homes compared to other homes has fallen to a 12 percent average, according to Diggle. That was about the same percentage prior to the housing crash, he says. Last year the foreclosure discount averaged about 30 percent. […]
