Los Angeles had the nation's highest number of housing short sales in this year's second quarter, with Phoenix a close second, according to foreclosure data firm RealtyTrac.
Short sales totaled 9,145 in Los Angeles for the quarter, making up 25% of all sales with an average short-sale price of $350,237. Phoenix saw 8,434 short sales at an average price of $133,793, with short sales making up 23.4% of all sales.
RealtyTrac reported in August that U.S. short sales increased 19% in the second quarter to 102,407, up from 86,059 in the previous quarter.
Short sales made up 12% of all residential home sales in the second quarter, with nearly one-third of all sales at some stage of foreclosure.
Reno, Nev., saw the biggest quarterly increase in short sales to nearly 50%, making up about 30% of total sales.
Article from http://www.housingwire.com/
Los Angeles Tops for 2nd Q Short sales.