Foreclosures down 22% in Q2

Florida's real estate markets saw 34,558 total foreclosure sales in the second quarter of 2011 according to RealtyTrac, down 22% from the same three-month period a year ago.

The state's total foreclosure sales represented 35% of all real estate sold in the second quarter, RealtyTrac says. The research firm estimates foreclosed properties were sold at a 33% discount relative to non-distressed properties, at an average price of $114,894.

Florida ranked seventh in terms of percentage of total real estate sales that could be categorized as foreclosures. In Nevada, the top-ranked state, more than 65% of all homes sold were foreclosed properties.

Across the U.S., 31% of all real estate transactions were foreclosure sales in the second quarter.