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| Craig King |
IRVINE, CA, July 2, 2015 — RealtyTrac® (www.realtytrac.com),
the nation’s leading source for comprehensive housing data, today released its
May 2015 U.S. Home & Foreclosure Sales Report, which shows 24.6 percent of
all single family home and condo sales in May were all-cash purchases, down
from 28.5 percent in the previous month and down from 30.4 percent a year ago
to the lowest level since November 2009.
The cash sales share in May was close to its long-term
average going back to January 2000 of 24.8 percent and well below its recent
peak of 42.2 percent in February 2011.
“For the potential first time homebuyer or move up buyer
this is a good time to move ahead,” said Craig
King, COO at Chase International brokerage, covering the Lake Tahoe and
Reno, Nevada, markets.
“Interest rates remain historically low, and the outlook for
price appreciation is great. The competition in the market place is also
different.
“While inventory is tight many investors have dropped out of
the market and cash deals are not as prevalent as they were. Even in
multi-offer situations much has been equalized. This is great news for first
time buyers.”
For a complete copy
of the company’s news release, please contact:
Ginny Walker
949.502.8300, ext. 268
Jennifer von Pohlmann
949.502.8300, ext. 139
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