Arab Today, arab today us housing market exhibits more signs of recovery
Last Updated : GMT 20:31:29
Arab Today, arab today
Arab Today, arab today

US housing market exhibits more signs of recovery

Arab Today, arab today

Arab Today, arab today US housing market exhibits more signs of recovery

Irvine - UPI

The U.S. housing market is improving bit by bit as data from a first-ever Residential Sales report from RealtyTrac shows, a company executive said. \"The U.S. housing market is slowly but surely moving toward a more normalized and sustainable pattern after a flurry of institutional and cash buyers flocked to residential real estate last year,\" Daren Blomquist, vice president at RealtyTrac, said in a statement. Institutional buyers, measured by the number of sales to non-lending entities that purchased at least 10 properties in the last 12 months, rose to 9 percent of all residential sales in June, up from 8 percent in May, but down from 10 percent in June 2012, the firm said. Institutional buying pushes up prices quickly and often snatches up the best inventory available in a local market, Blomquist said. In turn, as prices go up, institutional investors fade back into the woodwork. \"Rising home values should continue to unlock more non-distressed inventory while also pricing institutional investors out of more markets, which, combined with rising interest rates, will cool off the pace of price appreciation,\" Blomquist said. The Residential Sales Report showed other signs of a market in recovery. The report found the national median sales price in June was $168,000, up 3 percent from May and up 5 percent from June 2012. The median price for distressed homes -- homes in foreclosed or bank-owned -- was $120,000, while the median price of non-distressed homes was $181,500, RealtyTrac said. Short sales, which are sales at a price below what is owed on the mortgage, fell to 14 percent of all residential sales in June, down from 15 percent in May, but up from 8 percent in June 2012. In five western city markets the annual increase in median sales prices topped 20 percent, including Sacramento, Calif., where the median price rose 35 percent in 12 months and San Francisco, where the median price rose 30 percent. The median price rose 27 percent in Los Angeles, 26 percent in Las Vegas and 25 percent in Phoenix, the report said. But short sales, a sure sign of a wobbly market, are still occurring in significant numbers. Short sales, which are sales at a price below what is owed on the mortgage, fell to 14 percent of all residential sales in June, down from 15 percent in May, but up from 8 percent in June 2012. In June, 30 percent of all sales in Nevada were borrowers selling short. In Florida, short sales accounted for 29 percent of all sales. In Maryland, it was 21 percent and in Tennessee and Arizona, short sales made up 19 percent of the total.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us housing market exhibits more signs of recovery Arab Today, arab today us housing market exhibits more signs of recovery

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us housing market exhibits more signs of recovery Arab Today, arab today us housing market exhibits more signs of recovery

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today China refuses visa to elderly India runner

GMT 15:01 2017 Tuesday ,26 September

China refuses visa to elderly India runner
Arab Today, arab today UAE to open its first nuclear reactor in 2018

GMT 19:11 2017 Tuesday ,26 September

UAE to open its first nuclear reactor in 2018
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday