Nearly one-fifth of all residential sales in Utah in the second quarter were foreclosures, according to a report out Thursday from RealtyTrac Inc.

Nationally, foreclosures made up a larger share — nearly one-quarter — of all residential sales during that time period, according to the company, which tracks distressed properties nationally.

In Utah, 2,592 homes in some stage of foreclosure sold during the April-May-June time period, up 2.5 percent from the same period in 2009. Nationally, 248,534 properties in various stages of being taken back by banks sold during the time period.

Second-quarter home sales — including foreclosures — received a boost from the federal homebuying tax credit, which has since expired, according to James J. Saccacio, chief executive officer of RealtyTrac.

Many buyers this year weren't looking specifically for foreclosures or distressed properties, but in most areas of the country — including Utah —they can't help but stumble upon them during their homebuying search.

"It doesn't matter where you look [along the Wasatch Front] at all — we're just seeing a lot of bank-owned properties for sale right now," said Mary Olsen, of Keller Williams South Valley Realty.

Olsen specializes in short sales, in which a home seller owes more on a mortgage than the property is worth and the bank agrees to accept less than it is owed. That segment of the market, like foreclosures, also is quite active.

Some buyers are looking specifically at foreclosures because they can be priced lower than comparable properties that haven't been seized by banks. Foreclosures on average sold nationwide at a 26 percent discount compared with properties not in foreclosure, RealtyTrac said

With 18.6 percent of all home sales in Utah being foreclosures, the state had the 15th-highest percentage of sales of bank-seized properties in the quarter among all states, with Nevada, Arizona and California recording the highest percentages. Foreclosure sales in Nevada were a staggering 56 percent of all sales in the state during the quarter, followed by 47 percent in Arizona and 43 percent in California.

lesley@sltrib.com —

Highest percentage of foreclosure sales

Foreclosure sales accounted for nearly 56 percent of all sales in Nevada in the second quarter, the highest percentage of any state. Other states with a large share of foreclosure-related sales:

2 • Arizona 47%

3 • California 43%

4 • Rhode Island 37%

5 • Massachusetts 35%

6 • Florida 34%

7 • Michigan 33%

8 • Georgia 27%

9 • Idaho 27%

10 • Oregon 25%

15 • Utah 19%

U.S. average 24%

Source: RealtyTrac