Saturday, August 29, 2015

RealtyTrac Reports Share of In-Foreclosure Sales Drops to 15-Year Low in July While Cash Sales Share Falls to Eight-Year Low

                                                                        

Daren Blomquist
IRVINE, Calif. – August 27, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its July 2015 U.S. Home Sales Report, which shows sales of properties in-foreclosure and cash sales were down from a year ago to multi-year lows while year-to-date U.S. home sales in 2015 are at an eight-year high, and the U.S. median home price in July was at an 82-month high.

“While the stock market may be on a roller coaster as of late, the housing market is still on solid ground, with the eight-year low in cash sales combined with the eight-year high in overall sales volume in the first half of the year evidence that housing is successfully transitioning from an investor-driven recovery to one that is drawing in traditional buyers as a good foundation for sustainable growth going forward,” said Daren Blomquist, vice president at RealtyTrac.

“That’s not to say there are no cracks in the foundation of this recovery, the top three of which are housing affordability — or lack thereof in some high-flying markets — along with overdependence on capricious cash buyers — both foreign and domestic — in some markets, and the persistent overhang of underwater homeowners who continue to represent heightened default risk given any future economic shockwaves.”

 For a complete copy of the company’s news release, please contact:

 Jennifer von Pohlmann
 Sr. Data PR Manager
 Office: 949.502.8300 ext 139

                            

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