Buying and Selling Homes
JUNE RE CAP of Southland Home Sales
Cash Buyer accounted for 22.3% of June 2015 home sales. That was down from June 2014 when cash buyers were at 25.9% of the market. The peak was 36.9% in February 2013. Since 1988 the monthly average for cash buyers is about 17% of all sales.
Absentee buyers (investors and second home purchasers) bought 21.1% of Southland homes sold in June 2015. The peak was 32.4% in January 2013. The monthly average for absentee buyers since 2000 is about 19.0%.
The median price paid for all Southern California homes sold in June 2015 was $442,000. That is 12.5% below the peak median price of $505,000 reached in March, April, May and June of 2007.
Foreclosure re-sales (properties foreclosed on in the prior 12 months) represented only 3.8% of the Southland re-sale market in June 2015. That was down from 4.6% in June 2014. Foreclosure resales peaked at 56.7% in February 2009.
Short sales made up an estimated 3.1% of Southland re-sales in June 2015. That was down from 4.6% a year earlier.
Home Sales of $500,000 or more accounted for 41.7% of all Southland home sales in June 2015, which is up from 37.9% for June of last year and is the highest level for any month since September 2007 when it was at 44.4%.
Taken from CoreLogic.com July 19, 2015
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