ReCasa Financial Blog
According to RealtyTrac
, in October 2014, U.S. single family homes
were selling at a median price of $193,000. This figure is up 2% from September 2014 and up 16% from October 2013. Short sales
and distressed sales
accounted for 13.8% of all residential sales
, which was up from 13.7% in September 2014. During 2014, of all single family homes purchased, more than 32% were non-owner occupied
, which is the highest percentage of investor purchases
since 2001.
New Jersey, Illinois, and Ohio are amongst states that saw an increase in short sales during October 2014 compared to a year ago.
- New Jersey (up to 7.1% compared to 4.6%)
- Illinois (up to 9.9% compared to 6.6%)
- Ohio (up to 5.4% compared to 4.7%)
RealtyTrac’s Vice President Daren Blomquist reported that the U.S. recovery is being driven by real estate investors . It was stated that metro areas with a population of 500,000 or more that had an annual increase in median sales price included:
- Columbus, OH ($147,000 – up 14%)
- Charlotte-Gastonia-Concord, NC-SC ($164,000 – up 10%)
- Nashville-Davidson–Murfreesboro–Franklin, TN ($170,000 – up 13%)
- Cincinnati-Middletown, OH-KY-IN ($127,000 – up 15%)
- Cleveland-Elyria-Mentor, OH ($114,900 – up 21%)
- Toledo, OH ($100,000 – up 33%)
- Dayton, OH ($100,000 – up 20%)
- Akron, OH ($114,000 – up 17%)
- Lancaster, PA ($169,900 – up 11%)
What do you predict will happen for real estate sales for the last months of 2014?
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