After plunging from 23 percent of sales in February to 6.3 percent in August, the share of single-family home sales that were bank-owned in King County has been bumping along near that level for the last three months, coming in at 6.9 percent in October.
If 2010 and 2011 are any indication, this number will most likely shoot up a bit over the next few months as most equity sellers go into hibernation for the winter.
Short sales continued to make up a little over 10 percent of the market, coming in at 12 percent in October:
At 18.8%, the total share of sales that were either short sale or bank-owned is at its lowest point since May 2010, and 17 percentage points below where it peaked at 35.9% in February of this year.