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| Daren Blomquist |
IRVINE, CA —
RealtyTrac® (www.realtytrac.com), the nation’s
leading source for comprehensive housing data, today released its October 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 annualized pace of 5,649,965, a 2 percent increase from the previous month
and up 13 percent from October 2012.
Despite the nationwide increase, home sales continued to
decrease on an annual basis for the third consecutive month in three bellwether
western states: California (down 15 from a year ago), Arizona (down 13
percent), and Nevada (down 5 percent).
The national median sales price of all residential
properties — including both distressed and non-distressed sales — was $170,000,
unchanged from September but up 6 percent from October 2012, the 18th
consecutive month median home prices have increased on an annualized basis.
The median price of a distressed residential property — in
foreclosure or bank owned — was $110,000 in October, 41 percent below the
median price of $185,000 for a non-distressed property.
“After a surge in short sales in late 2011 and early 2012,
the favored disposition method for distressed properties is shifting back
toward the more traditional foreclosure auction sales and bank-owned sales,”
said Daren Blomquist,vice president at RealtyTrac.
“The combination of rapidly rising home prices — along with
strong demand from institutional investors and other cash buyers able to buy at
the public foreclosure auction or an as-is REO home — means short sales are
becoming less favorable for lenders.”
For a complete copy of the company’s news release, please
contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
Brittney Marin
949.502.8300, ext. 107
Data and Report Licensing:
800.462.5193
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