The National Association of Realtors reported that distressed sales which include short sales and foreclosures fell to 10% in April while it was 15% a year ago. Prior to the housing crisis distressed sales accounted for about 2%. According to Core Logic, we should achive that level by mid 2017.
On average, foreclosures sold for 20% below market value while short sales sold 14% below market value. Do not think these homes sold 20-14% below the asking price. Most of the time these homes are priced accordingly and sell for full price and sometimes more.
Florida had the second largest share of foreclosures in March coming in at 22%. Based on metro levels Orlando-Kissimmee-Sanford had the largest share of distressed sales in the country at 24.6% followed by Miami-Miami Beach-Kendall with 24.2% distressed sales. Tampa-St. Petersburg-Clearwater had the 3rd largest share at 23.5%.