A sharp drop in distressed sales is one of the main drivers behind the
steady rise in home prices seen in certain areas throughout the country.
In September, the HousingPulse Distressed Property Index (DPI),
which measures the proportion of purchase transactions involving
distressed properties, hit a record low of 38.6 percent based on a
three-month moving average.
The drop marks the fifth consecutive monthly decline and is more than 10
percentage points lower than the February’s near-record-high of 48.7
percent.
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