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| Daren Blomquist |
IRVINE, CA — RealtyTrac®
(www.realtytrac.com), the nation’s leading source for comprehensive housing
data, today released its June and Midyear 2015 U.S. Home Sales Report, which
shows distressed sales, cash sales and institutional investor sales in June
were all down from a year ago to multi-year lows even as sales to first-time homebuyers
and other buyers using FHA loans increased compared to a year ago in June and
reached a two-year high in the second quarter.
Buyers using Federal
Housing Administration (FHA) loans — typically low down payment loans utilized
by first time homebuyers and other buyers without equity to bring to the
closing table — accounted for 23 percent of all single family home and condo
sales with financing — excluding all-cash sales — in the second quarter of
2015, up from 20 percent in the first quarter and up from 19 percent in the
second quarter of 2014 to the highest share since the first quarter of 2013.
The report also shows
914,291 single family and condo sales through April 2015 — the most recent
month with complete sales data available — at the highest level through the
first four months of a year since 2006, a nine-year high.
“As the investor-driven
housing recovery faded in the first half of 2015, first-time homebuyers,
boomerang buyers and other traditional owner-occupant buyers started to step
into the gap and pick up the slack,” said Daren
Blomquist, vice president at RealtyTrac.
“This is good news for sellers in many
markets, providing them with strong demand from a larger pool of buyers, and
U.S. sellers so far in 2015 are realizing the biggest gains in home price
appreciation since 2007.
“ In June sellers sold for
above estimated market value on average for the first time in nearly two years.
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
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