RealtyTrac: Cash Sales Pull Back From Previous Month… Institutional Investor Purchases Plummet Nationwide

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Cash Sales Pull Back From Previous Month, Still Represent 44 Percent of Total Sales
  Institutional Investor Purchases Plummet Nationwide, Up in Georgia, North Carolina

RealtyTrac: Cash Sales Pull Back From Previous Month… Institutional Investor Purchases Plummet Nationwide

IRVINE, Calif. – Nov. 25, 2013 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its October 2013 U.S. Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annualized pace of 5,649,965,  a 2 percent increase from the previous month and up 13 percent from October 2012.

Despite the nationwide increase, home sales continued to decrease on an annual basis for the third consecutive month in three bellwether western states: California (down 15 from a year ago), Arizona (down 13 percent), and Nevada (down 5 percent).

The national median sales price of all residential properties — including both distressed and non-distressed sales — was $170,000, unchanged from September but up 6 percent from October 2012, the 18th consecutive month median home prices have increased on an annualized basis.

The median price of a distressed residential property — in foreclosure or bank owned — was $110,000 in October, 41 percent below the median price of $185,000 for a non-distressed property.

Full report here…

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