Friday, December 20, 2013

RealtyTrac® Reports Share of All-Cash Sales of Homes Reaches New High in November; REO Sales Share Increases for Third Consecutive Month




IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its November 2013 U.S. Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 5,146,565 in November, a less than 1 percent increase from a revised pace of 5,128,034 in October and up 10 percent from November 2012.

Daren Blomquist
“The housing market recovery continued to be driven by investors and other cash purchasers in November,” said Daren Blomquist, vice president at RealtyTrac.

 “Lenders are taking advantage of this environment to unload more of their bank-owned inventory and in-foreclosure inventory at the foreclosure auction.

“But as the backlog of distressed inventory available dries up in many of the markets with the most efficient foreclosure processes — namely California, Arizona and Nevada, with Georgia not far behind — overall sales volume is declining and will continue to do so until more non-distressed sellers enter the market.”

For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann
PR Manager
Office: 949.502.8300 ext 139

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