RealtyTrac recently released its 2015 third quarter U.S. Home Sales Report. Here are some of the key findings.
- "An increasing number of homeowners in 2015 have been cashing out the home equity they've gained during the housing recovery of the past three years," says RealtyTrac vice president Daren Blomquist.
- Home sellers realized an average price gain of $40,658 (17 percent) on their purchase price, the highest gain in eight years. Click Here to find out how much the value of your home has increased.
- Buyers using Federal Housing Administration loans (typically low down-payment loans designed for first-time buyers or those with low equity) accounted for 23.4 percent of all single-family home and condo sales with financing.
- There were 245,220 all-cash sales of single-family homes in the third quarter - 27.8 percent of all single-family home and condo sales.
- There were 15,956 sales of single-family homes and condos to institutional investors - 1.9 percent of all sales, down from 5 percent a year ago.
- 72,218 single-family homes and condos sold were actively in the foreclosure process - 8.1 percent, a 15-year low.
- 72,245 single-family homes and condos sold were bank-owned - also 8.1 percent of all sales.