home sales price

Home sales tumbled this summer, and foreclosed properties bore the brunt of the pain. Sales of foreclosed homes plunged 31% from the year-ago period -- and 25% from the previous quarter. Prices for these properties also fell more than other homes.

New data from RealtyTrac shows that 24% of all U.S. properties sold in the second quarter were foreclosed homes. The group projects that the U.S. "will get through the distressed inventory largely by the end of 2013."

A Thomson Reuters/University of Michigan survey published last week suggests that most homeowners think the worst is over, and don't anticipate further declines in the value of their properties in 2010. Just 15% of homeowners surveyed in January expected their homes to decline in value over the...