STEVE INSKEEP, Host: NPR's business news starts with an increase in foreclosures.</s>STEVE INSKEEP, Host: RealtyTrac estimates it'll take three more years to sell off the inventory of foreclosed homes at the current pace of sales.
Nearly one in four homes sold in the second quarter of this year were foreclosures, according to the research firm RealtyTrac. The company estimates banks will take over a record 1.2 million homes this year — up from a million last year. Those foreclosed homes sold for 26 percent less compared to homes not in foreclosure.