Comprehensive data powerhouse RealtyTrac recently released their Q3 2016 U.S. Home Sales Report which showed distressed sales (including REO’s. sales of homes actively in foreclosure, and short sales) made up 12.9% of all U.S. single family home and condo sales in the 3rd quarter of 2016. This number was down 2.1% from the previous quarter and represents the lowest share of distressed home sales since the 3rd quarter of 2007 when it was 12.3%. The report also revealed that all-cash purchases accounted for 25.9% of all single family home and condo sales. This was down 1.5% from previous quarter and also the lowest level since 3rd quarter of 2007 when it was at 24.3%.
“Distressed inventory for sale is virtually non-existent in many of the nation’s hottest housing markets, and when a distressed property is listed for sale in those markets it often sells quickly and at little or no discount,” said Daren Blomquist, senior vice president at ATTOM Data Solutions (parent company of RealtyTrac).
Click here to read the full report on RealtyTrac.com.
