Residential Sales, Median Price Up While Investor Purchases Decline in June

RealtyTrac’s first-ever U.S. Residential Sales Report revealed a number of details about the current state of the nation’s housing market for June 2013. Chief among them: residential properties sold at a pace of 5.3 million on an estimated annualized basis, while the national median sales price came in at $168,000 for the month. Short sales and the sale of bank-owned properties accounted for 23 percent of the market in June, meaning approximately one out of every four home sales was a distressed property during the month. All-cash purchases accounted for 30 percent of the market, while purchases by institutional investors accounted for 9 percent of all residential sales in June. RealtyTrac Vice President Daren Blomquist gives the details of the report.

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