RealtyTrac Reports 54 Percent of U.S. Metros on Pace to Reach Eight-Year High in Home Sales in 2015 Based on Sales Through August

  

Mark Hughes

IRVINE, CA --  RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its August 2015 U.S. Home Sales Report, which shows single family home and condo sales through August were on pace for an eight-year high nationwide and in 110 out of 204 (54 percent) metropolitan statistical areas with sufficient sales data.

“The continued strength in sales volume across a wide spectrum of markets in August indicates that shockwaves from recent global stock market instability have not weakened the housing recovery and in fact there is evidence that the instability has fueled more demand for U.S. real estate,” said Daren Blomquist, vice president of RealtyTrac.

“We are seeing more globalization as Southern California has become a destination for international buyers,” said Mark Hughes, chief operating officer with First Team Real Estate, covering the Southern California market. “Eighty percent of new construction in Irvine last year was sold to Chinese buyers. International buyers are driving home prices up and sometimes out of reach for many local residents.”

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

Ginny Walker

949.502.8300, ext. 268

ginny.walker@realtytrac.com