IRVINE, CA — RealtyTrac® (www.realtytrac.com),
the nation’s leading source for comprehensive housing data, released its Q1
2014 U.S. Institutional Investor & Cash Sales Report, which shows the share
of all-cash sales reached a new high in the first quarter even as the share of
institutional investor purchases dropped to the lowest level since the first
quarter of 2012.
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| Daren Blomquist |
The report shows 42.7 percent of all U.S. residential
property sales in the first quarter were all-cash purchases, up from 37.8
percent in the previous quarter and up from 19.1 percent in the first quarter
of 2013 to the highest level since RealtyTrac began tracking all-cash purchases
in the first quarter of 2011.
“Strict lending standards combined with low inventory
continue to give the advantage to investors and other cash buyers in this
housing market,” said Daren Blomquist, vice president at RealtyTrac.
“The good news is that as institutional investors pull back
their purchasing in many markets across the country, there is still strong
demand from other cash buyers — including individual investors, second-home
buyers and even owner-occupant buyers — to fill the vacuum of demand left by
institutional investors.”
For a complete copy of the company’s news release, please
contact:
Jennifer von Pohlmann
949.502.8300
949.502.8300, ext. 139
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