Meridian ID short sales have outpaced bank-owned and HUD properties for the first half of 2012. As can be seen in the following illustrations, Meridian Idaho short sales have been the same or slightly higher than the sales of bank-owned (REO) or HUD properties since January 2012. This is in sharp contrast to the first half of 2011 when the sale of bank-owned and HUD properties were higher than short sales, sometimes by as much as 48%.
The ratio of bank-owned properties and Meridian Idaho short sales is not the only difference in the Meridian Idaho real estate market for 2012. The number of non-foreclosure sales compared to foreclosures and pre-foreclosures has seen a major increase. In January 2012, there were 45 non-foreclosure sales. Monthly sales have since risen steadily and in June there were 137 non-foreclosure sales in Meridian Idaho. This is an increase of 204%. During this same time period, the number of Meridian ID bank-owned, HUD properties and Meridian ID short sales have decreased.
In 2011, the foreclosure market share ranged between 41.8% and 65.2%. In 2012, the Meridian Idaho foreclosure market share ranged between 22.5% and 45.8%.