Incomplete Short Sale Foreclosures Hinder Market Recovery

by cassy82 | December 27, 2010 at 07:04 am

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Realtors in California stated that incomplete short sale foreclosures are partly to blame for the housing market's slow recovery. Around 40% of short sales in the area do not reach closing stages.

Although existing housing unit sales improved in California in November 2010, the state's residential property industry still failed to mount a sustained recovery. Part of the reason, analysts have stated, is the lack of short sale foreclosures which can help eliminate hundreds of abandoned and empty properties in the region.