Great housing information you should know !!!! • 45% of all residential sales in August were cash purchases, up from 39% in July and 30% year-to-year. • Among metro areas with a population of 1 million or more, the highest percentage of all-cash sales were in Miami (69%), Detroit (68%), Las Vegas (66%), Jacksonville, Fla., (65%) and Tampa, Fla., (64%). • Institutional investors (purchasing 10 or more properties in the last 12 months) accounted for 10 percent of all sales in August, up from 9 percent in July and 9 percent in August 2012. • Among metro areas with a population of 1 million or more, those with the highest percentage of institutional investor purchases were Memphis, Tenn. (31%), Jacksonville, Fla. (29%), Atlanta (22%), St. Louis (17%) and Detroit (17%). • Short sales accounted for 15 percent of all U.S. residential sales in August, up from 14 percent in July and 8 percent in August 2012. States with the biggest percentage of short sales were Nevada (34%), Florida (29%), Ohio (23%), Maryland (21%), Tennessee (20%) and Michigan (20%). • Bank-owned homes made up 10 percent of all U.S. residential sales in August, up from 9 percent in July and 9 percent year-to-year. States with the biggest percentage of REO were Nevada (22%), Ohio (17%), Arizona (17%), Michigan (16%), Illinois (14%) and California (14%). • Sales volume increased from the previous month in 39 of the 42 states tracked. It was up from a year ago in 37 states, including Texas, (up 31%), Illinois (29%), Pennsylvania (28%), Virginia (26%) and Florida (22%). • Notable exceptions where sales volume decreased from a year ago included California (down 17%), Arizona (12%) and Nevada (6%). • States with biggest annual increases in median prices include California (up 32%), Nevada (26%), Georgia (21%), Arizona (20%) and New York (19%). • Among metro areas with a population of 1 million or more, those with the biggest annual increases in median prices included San Francisco (up 35%), Sacramento (35%), Riverside-San Bernardino in Southern California (28%), Atlanta (28%), Los Angeles (26%), Las Vegas (26%) and Phoenix (25%).
Posted on: Thu, 03 Oct 2013 17:24:46 +0000