A report made by the California-based RealtyTrac shows that as many as 31 per cent of all the homes sold in US during the first quarter of 2010 were foreclosed homes.

The data is for the residential sales. The report also showed that the average price at which the houses were sold was 27 per cent lesser than the houses that were not part of the process.

Going by the most recent statistics forwarded by the Irvine, California-based RealtyTrac, US foreclosure filings exceeded 300,000 for the eighth month in a row, thereby indicating that unemployment still stands in the way of bill-payments by homeowners.

According to RealtyTrac, an online firm specializing in foreclosure properties, the deepening crisis in the housing market is evident from the fact that the year-on-year US home foreclosure activity in April soared to a record high of 32 percent – marking the second monthly jump in a row!