21 Percent of Maryland House Sales Are 'Short Sales'

By Patch Editor Whitney Teal

With all signs pointing to a recovering real estate market in the Washington, DC, suburbs, short sales were still incredibly popular in Maryland this year, according to a report from real estate research firm RealtyTrac, the Washington Business Journal reported.

About one-fifth (21 percent) of house sales in the state were short sales, according to a June report. A short sale is a foreclosure alternative where the seller makes no profit because the house sells for less than the amount owed, according to AOL Real Estate.

Only Nevada (30 percent) and Florida (29 percent) had a higher percentage of short sales, the newspaper reported.

Read the Washington Business Journal for more on the report.