Forclosure homes made up nearly 1/4 of all residential sales in the second quarter, according to a report Thursday from Irvine-based RealtyTrac Inc.
The foreclosures tracking outfit said 248,534 U.S. homes sold in some stage of foreclosure during the quarter, an increase of 5% from the previous quarter, but down 20% from a year ago.
Foreclosures on average sold at a 26% discount compared with properties not in foreclosures. That's down from 27% in the first quarter.
Nevada, Arizona and California recorded the highest percentages of foreclosure sales in the quarter.
Foreclosure sales in Nevada were 56% of all sales in the state during the quarter. That percentage was 47% in Arizona and 43% in California.
Ohio, Kentucky and California had the nation's best foreclosure bargains. Ohio foreclosures sold at a 43% discount in the second quarter, while Kentucky foreclosures sold 41% below the average sales price of homes not in foreclosure. California's discount was 39% in the quarter.
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