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.

Talking about this, Rick Sharga, Seniro VP of RealtyTrac said that the particular trend is different from the regular process where only 1 to 2 per cent of the total houses sold consists of foreclosed property. Considering that, the current level is significantly high.

Data shows that the total US foreclosed houses in 2009 stood at more than 1,100 percent from 2006 and as much as 2,500 per cent higher than 2005.

Also while the total foreclosed sales accounted for 29 per cent of the all sales in 2009, it was 23 per cent in 2008 and around just 6 per cent in 2007. A massive increase in any possible way.

But the good news is that the foreclosed activity in first quarter was better than the previous quarters.