The share of distressed properties on the market continued to decline. About 21 percent of REALTORS® reporting on their last sale in March sold distressed properties, compared to approximately 40 percent in March 2011. This is based on data from the March REALTORS® Confidence Index Survey.
Distressed sales are mostly sold for cash. Distressed sales accounted for 35 percent of cash sales compared to 21 percent of mortgage sales.