| |  | | | | Bank-Owned Homes Selling at Biggest Discount Since 2006 | | | A total of 449,900 U.S. properties were repossessed by lenders in 2015, up 38 percent from 2014 but still 57 percent below the peak of nearly 1.1 million bank repossessions (REOs) in 2010, according to the RealtyTrac 2015 Year-End Foreclosure Market Report released last week. Bank repossessions (REOs) increased from a year ago in 41 states and the District of Columbia. Some of the biggest increases were in New Jersey (up 226 percent), New York (up 194 percent), Texas (up 115 percent), North Carolina (up 108 percent), and Oregon (up 96 percent).
The median price of a bank-owned home in 2015 was 41 percent below the median price of all homes - the biggest bank-owned discount nationwide since 2006. Read More » | | | | | | Sponsored
 | All-Cash Share of U.S. Home Sales in November Jumps to Highest Level Since March 2013
RealtyTrac November home sales data derived from publicly recorded sales deeds shows the share of cash sales jumped to 38.1 percent of U.S. single family home and condo sales during the month - up from 29.8 percent in October and up from 30.9 percent a year ago to the highest level since March 2013, when 38.8 percent of all sales were all-cash. The 23 percent year-over-year increase in share of cash sales nationwide followed 29 consecutive months of annual declines in the share of all-cash home sales.
"The jump in cash sales is likely a knee-jerk reaction to the new documentation and disclosure rules for mortgages that took effect in October, making it even more difficult for buyers using financing to compete with cash buyers in the already competitive housing market," said Daren Blomquist, vice president at RealtyTrac. "Global economic instability may also be driving more foreign cash buyers back to the relative safety of U.S. real estate." U.S. Cash Sales Heat Map » | | | | | | | | |
No comments:
Post a Comment