While the gap between REO sales prices and the rest of the market was very slim prior to 2007, a new study from Lender Processing Services (LPS) in Jacksonville, Fla. shows that gap is growing at an accelerating pace.

Using LPS' newly developed, proprietary home price index that can include or exclude real estate owned sales, the company conducted a study of changes in regional home prices between 2007 and 2008 in the nation's top housing markets.

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