IRVINE, CA — ATTOM Data Solutions, the nation’s leading source for
comprehensive housing data and the new parent company of RealtyTrac released its Q3 2016 U.S. Home Sales Report,
which shows that distressed sales — including bank-owned (REO) sales, sales of
homes actively in foreclosure, and short sales — accounted for 12.9 percent of
all U.S. single family home and condo sales in Q3 2016, down from 15.0 percent
in the previous quarter and down from 15.9 percent in Q3 2015 to the lowest
share of distressed home sales since Q3 2007, when distressed sales accounted
for 12.3 percent of all home sales.
“Distressed inventory for sale is virtually non-existent in many of the
nation’s hottest housing markets, and when a distressed property is listed for
sale in those markets it often sells quickly and at little or no discount,”
said Daren Blomquist, senior vice
president at ATTOM Data Solutions.
“The scarcity of discounted distressed inventory is chasing away cash
buyers and other bargain hunters, but it’s certainly good news for home
sellers, who nationwide realized the biggest home price gains since purchase in
nine years.
“We are seeing the average seller home price gain since purchase start
to wane in some of the highest-priced markets where appreciation is beginning
to cool, indicating those markets are past their prime as sellers’ markets,”
Blomquist continued.
“Meanwhile there are still a number of buyers’ markets across the
country where a high level of lingering distress and relatively weak demand
from owner-occupant buyers provides investors with plenty of bargain-buying
opportunities.”
For a complete copy of the company’s news
release, please contact:
Jennifer von Pohlmann
949-502-8300 ext 139
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