Citing data from Lender Processing Services estimating more than 2 million properties in some state of foreclosure, Fitch stated in a press release Tuesday that REO sales both single-property and bulk sales will be an integral component of the housing market in coming years. However, “[t]he timing and method of their disposition has significant implications for home prices,” according to Fitch because distressed properties generally sell at a substantial discount, further exacerbated by the presence of excess inventory.
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