Sales of previously owned homes fell back 0.8 percent in April, according to a new report just released by the National Association of Realtors. The trade group says an unexpected recovery should be expected and notes that existing-home sales have risen in six of the last nine months. The share of distressed home sales also dropped last month, accounting for 37 percent of total sales volume, down from 40 percent in March.

Contrary to this report, my office has actually seen a consistant increase in traffic since the first of the year.  Additionally, we have seen a rise in new short sale listings. Alarmingly, many are homeowners who purchased within the past 1-2 years asking for short sale assistance, further contributing to the inventory of distressed properties.

If you know of someone who owes more on their home than it is worth, and are experiencing a hardship causing them to fall behind in their mortgage payments, please have them call me at 301-870-1717 x106. There are alternatives to Foreclosure.