IRVINE, CA, July 25, 2013 — RealtyTrac® (www.realtytrac.com), the leading online
marketplace for real estate data, today released its first-ever U.S.
Residential Sales Report, which shows that U.S. residential property sales
reached an estimated annualized pace of 5.3 million in June 2013, up 2 percent
from the previous month and up 8 percent from a year ago.
 |
| Daren Blomquist |
The report also shows a national median sales price of
$168,000 for the month, up 3 percent from the previous month and up 5 percent
from a year ago. The median price of a distressed sale — in foreclosure or bank
owned — was $120,000, 34 percent below the median price of a non-distressed
sale ($181,500).
“The U.S. housing market is slowly but surely moving toward
a more normalized and sustainable pattern after a flurry of institutional and
cash buyers flocked to residential real estate last year, pushing up prices and
picking clean the best inventory available in many areas,” said Daren
Blomquist, vice president at RealtyTrac.
“Rising home values should continue to unlock more
non-distressed inventory while also pricing institutional investors out of more
markets, which, combined with rising interest rates, will cool off the pace of
price appreciation.
“Still, lingering distressed inventory in many markets will
continue to provide fodder for institutional investors and cash buyers in those
markets,” Blomquist continued.
“Markets where sales increased in June tend to be in states
with that lingering distressed inventory, whereas markets where sales decreased
tend to be in states that more quickly absorbed distressed inventory thanks to
a relatively fast foreclosure process and strong demand.”
For a complete copy of the company’s news release, please
contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
Ginny Walker
949.502.8300, ext. 268
Data and Report Licensing:
800.462.5193
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