In 2014, a full third of the homes listed for sale in Monroe County, Pennsylvania, with a population just under 170,000, were REOs.
Along with Wayne County, Michigan these were are the only two outside of Florida on a new list from RealtyTrac® that shows counties of 100,000 residents (not including non-disclosure states) where REOs were the highest percentage of last year’s home sales.
An REO, or real estate owned property, is one that has come back to the lender – typically a bank, government agency, or government loan insurer – after it has failed to sell at a foreclosure auction.
Below are the Top Ten counties on the new RealtyTrac report:
|County, State||Population||Pct. of REO Sales|
|Saint Lucie, Florida||278,246||30%|
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