Foreclosures continue to account for about a third of all existing homes sold in the United States, according to a report released today by the National Association of REALTORS® (NAR).

The May 2010 figures indicate that distressed real estate is still in high demand, representing 31 percent of completed transactions in the month that included single-family, townhomes, condominiums and co-ops.

By comparison, distressed home sales hovered around 33 percent of the market share in the previous month (it was also 33 percent in May 2009).

Overall, existing home sales were down 2.2 percent “from an upwardly revised surge of 5.79 million units in April.”

NAR President Vicki Cox Golder provides context:

“With distressed sales at roughly the same level as a year ago, the gain in home prices is a hopeful sign that the market is in a good position to stand on its own without further government stimulus. Very affordable mortgage interest rates and stabilizing home prices are encouraging home buyers who were on the sidelines during most of the boom and bust cycle.”

To start your home search today click here. Foreclosure.com has the best real estate deals in your area … so you better find them fast before someone else does!

The overwhelming amount of distressed real estate has dragged down home prices virtually nationwide and will continue to do so as long as homeowners continue to struggle meeting their monthly mortgage obligations, according to Moody’s Economy.com.

From the report (via DSNews.com):

“We expect that house prices will continue to decline because the pipeline of distressed mortgages is substantial and because the price discounts for distress sales weaken all house prices.”

This is music to the ears for buyers and investors. And it’s a major reason the best foreclosure-related opportunities fly off the market.

Getting in on the action now, before the prices begin their gradual climb up, is an incredibly smart decision now and in the future.

It’s more than likely instant equity!

There are also a ton of options from which to choose — there is something for everyone out there if you dig deep enough.

Moody’s predicts a “rebound” by 2012, meaning that in two years these buyer-friendly conditions and amazing deals could be history. And there’s no telling if the getting, from a buyers/investors perspective, will ever get this good anytime soon.

Act fast before it’s too and help yourself … and a homeowner!

Distressed real estate, which include foreclosure, preforeclosure and short sale homes, accounted for 48.1 percent of all sales nationwide in Feb. 2010, according to the Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions (via DSNews.com).

Thomas Popik, research director for Campbell Surveys, provides some context:

“Short sales now account for the No. 1 category of distressed property. Losses on short sales are typically lower than for REO, and both lenders and the government are pushing programs to facilitate short sales. But as more and more people default or simply want to walk away from their properties, mortgage servicers are having trouble expeditiously processing these complicated transactions.”

Popkick is referring to the Home Affordable Foreclosure Alternatives (HAFA) program, which the U.S. Treasury Department recently released to simplify and streamline use of short sales and deeds-in-lieu of foreclosure.

HAFA guidelines go into effect on April 5, 2010 (agents reading this might want to check out our training and certification course right here), meaning that short sales will only likely become more popular in the weeks, months and years ahead.

Foreclosures, of course, have always been popular because of their perceived value — buyers and investors are always looking to land the best deals possible.

To check out short sales (preforeclosures) and foreclosures in your area click here.

Hurry … these listings fly off our site fast because they are so desirable.

Los Angeles Times has put together an interesting multimedia presentation of the foreclosure problem that is sweeping the nation in general and California in particular. Watch it right here.