Missouri 3rd quarter foreclosure sales up 39 percent

KANSAS CITY, Mo. (AP) — Third-quarter sales of Missouri homes involved in foreclosure actions rose by 39 percent over the previous quarter amid concentrated efforts to unload distressed properties and strengthen the housing market.

The Kansas City Star (http://bit.ly/UhyYxs) reports the Irvine, Calif.-based RealtyTrac released a report Thursday showing 2,645 single-family homes in Missouri owned by banks or in some stage of foreclosure were sold in the third quarter.

Realty-Trac says the average sales price was $102,000, which is 12 percent lower than in the second quarter but about the same as in the third quarter a year ago.

Nationwide, the number of foreclosure-related sales in the third quarter increased by 21 percent.

The data also showed that more distressed homeowners are turning to short sales before their properties are foreclosed upon by banks.

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