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| Michael Mahon |
IRVINE, CA, Dec. 31, 2014 — RealtyTrac®
(www.realtytrac.com), the nation’s leading source for comprehensive housing
data, today released its November 2014 Residential & Foreclosure Sales
Report, which shows that the median sales price of U.S. single family homes and
condos in November was $190,000, flat with the previous month but up 15 percent
from a year.
The median sales price of distressed homes — those in the
foreclosure process or bank-owned — reached a high of $128,625, the highest
since December 2009, 35 percent below the median sales price of non-distressed
properties, $199,000.
Distressed home prices increased at a faster pace, up 18
percent from a year ago while non-distressed home prices were up 14 percent
during the same time period.
“As the price of distressed properties reaches a new high
the pool of investor activity that has been fueling the housing recovery may
dry up,” said Daren Blomquist, vice president at RealtyTrac.
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| OB Jacobi |
“However, 20 states still saw annual decreases in distressed
property prices so we will continue to see a fragmented recovery as investors
move from once hot markets such as Phoenix, Atlanta and many California markets
and into markets such as Charlotte, Columbus, Ohio, Dallas and Oklahoma City.”
“We are finding many home buyers frustrated as we enter the
Holiday Season in Ohio,” said Michael Mahon, executive vice president at
HER Realtors, covering the Cincinnati, Columbus and Dayton markets. “With a less than seasonally normal
available homes inventory to choose from, coupled with a reduction in available
foreclosure inventory, many home buyers are finding themselves in multiple
offer situations or unable to find their dream home for the Holidays.”
“Seattle home prices started the year at an appreciation
rate of about 15 percent, but the pace gradually slowed and we expect prices in
2015 to hover between 4-6 percent.
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| Daren Blomquist |
"We see that as a good thing because if home
prices keep appreciating in the double digits for too long, we could run into
the same boom/bust market of years past,” said OB Jacobi, president of
Windermere Real Estate, covering the Seattle market.
“Buyer demand in Seattle has been incredibly strong this
year and we believe this will continue into 2015, but inventory levels, which
are at an all-time low right now, should begin to inch up, providing more
buyers with a greater selection of homes to choose from.”
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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