Since 2009 foreclosed homes have accounted for 10 to 20 percent of single-family sales in most cities. Magna is at the upper end with foreclosed properties representing 21 percent of home sales, while Centerville is near the bottom with only 8 percent.
Even high income housing markets in small communities, like Alpine and Fruit Heights have had their share of foreclosed sales. In both of these communities the sare of foreclosed properties was in double digits.
Of course when foreclosed properties are measured as a share of the city’s total housing stock, the share is much smaller, generally between 1 and 3 percent of the inventory.