Third parties purchased a total of 109,521 pre-foreclosure homes — in default or scheduled for auction — during the first quarter, an increase of 16 percent from the previous quarter and an increase of 25 percent from the first quarter of 2011. First quarter pre-foreclosure sales were at their highest quarterly level since the first quarter of 2009. Pre-foreclosure sales accounted for 12 percent of all sales during the first quarter, up from 10 percent of all sales in the previous quarter and 9 percent of all sales in the first quarter of 2011.Pre-foreclosure sales increased on an annual basis in 27 states, including Wisconsin (94 percent), Michigan (81 percent), Georgia (80 percent), Texas (46 percent), and Illinois (46 percent).
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