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| Daren Blomquist |
IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s
leading source for comprehensive housing data, released its Q3 2014 U.S.
Institutional Investor & Cash Sales Report, which shows that sales to
institutional investors — entities that purchase at least 10 properties in a
calendar year — accounted for 4.3 percent of all sales of single family homes
and condos in the third quarter, down from 5.0 percent in the previous quarter
and down from 5.3 percent a year ago to the lowest level since the fourth
quarter of 2010.
Meanwhile all-cash sales accounted for 33.9 percent of all
sales of single family homes and condos nationwide in the third quarter, down
from 36.9 percent in the second quarter and unchanged from a year ago.
“Cash sales continue to be an important piece of the real
estate puzzle right now, representing one in every three home sales nationwide
in the third quarter of 2014 and helping to drive up U.S. median home prices 38
percent over the last two and half years,” said Daren Blomquist, vice
president at RealtyTrac.
“As institutional investors and other cash buyers slow down
their purchasing in many markets across the country, more traditional buyers —
including first-time homebuyers and move-up buyers — will need to increasingly
fill in the missing puzzle pieces to maintain the momentum of the housing
recovery.
For a complete copy
of the company’s news release, please contact:
Jennifer von Pohlmann
949.502.8300949.502.8300, ext. 139
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