Quarterly foreclosures down more than 30 percent in Southwest Florida from 2011

The sale of bank-owned homes and homes in some stage of foreclosure are on the decline in Southwest Florida and nationwide.

Foreclosure-related sales accounted for 23 percent of all residential sales in the U.S. in the second quarter, according to Irvine, Calif.-based RealtyTrac. There were 224,429 sales, down 12 percent from the first quarter and down 22 percent from a year ago. It's the first year-over year decline seen after five quarters of increases.

In Cape Coral-Fort Myers, there were 776 foreclosure-related sales in the second quarter, down 7.4 percent from the first quarter and down more than 38 percent from a year ago. In Naples-Marco Island, there were 277 sales, up slightly from the previous quarter, but down nearly 33 percent year-over-year.

Nationwide, the average price for foreclosure-related sales rose in the second quarter, up 6 percent from the first quarter and up 7 percent from a year ago, the biggest annual increase seen since the fourth quarter of 2006.

"The second quarter sales numbers provide solid statistical evidence of what we've been hearing anecdotally from real estate agents, buyers and investors over the past few months: there is a limited supply of available foreclosure inventory to choose from in many markets," said Daren Blomquist, RealtyTrac's vice president, in a statement.

"Given this shortage of supply and the seasonally strong buyer demand in the second quarter, it's no surprise that the average foreclosure-related sales price increased both on a quarterly and annual basis."

In the second quarter, Modesto, Calif., had the highest percentage of foreclosure-related sales of any of the nation's 100 largest metros — at 57 percent of all residential sales.

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