The Associated Press September 30, 2010, 11:21AM ET

Foreclosures: 9.8 percent of La. home sales

Foreclosed residences accounted for nearly one-in-10 home sales in Louisiana during the second quarter of 2010, according to a survey.

Irvine, Calif.-based RealtyTrac, which tracks foreclosures nationwide, said Thursday that 739 Louisiana homes were sold under foreclosure from April-through-June. Those included homes already repossessed by lenders and those scheduled for an auction.

That accounted for 9.8 percent of the homes sold in the state during that period, RealtyTrac said.

RealtyTrac said Louisiana homes that had been taken over by a lender sold for an average 31.5 percent discount below the price of non-foreclosed homes that sold. Residences scheduled for auction took an average 18.6 percent price discount.

Nationwide, RealtyTrac said that foreclosed residences accounted for 24 percent of second-quarter home sales. Homes already taken by lenders took an average discount of 35 percent, while those scheduled for auction took an average discount of 13 percent.

Foreclosure sales accounted for nearly 56 percent of second-quarter home sales in Nevada, the highest percentage in the United States. That was followed by Arizona with 47 percent and California with 43 percent.

RealtyTrac said Ohio foreclosures took the largest discount: 48 percent for repossessed homes and 24 percent on pre-foreclosures.

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