Sales of foreclosed properties owned by the U.S. government have gotten bogged down this summer, and real estate agents are steamed about it.
The Department of Housing and Urban Development has been forced to delay the sale of several hundred foreclosed properties, causing complaints from real-estate agents who are frustrated that the deals can’t close.
The National Association of Realtors called attention to the delay on Wednesday in a press release on its report on pending sales of previously occupied homes. Lawrence Yun, chief economist for the trade group, called the delays “a nonsensical situation.”
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