This data suggests healing in the Sacramento market and other distressed markets are showing similar improvement. Note: The Sacramento Association of REALTORS® started breaking out REOs in May 2008, and short sales in June 2009.
In June, total sales were up 21.7% from June 2014, and conventional equity sales were up 25.4% compared to the same month last year.
In June, 10.7% of all resales were distressed sales. This was up from 9.8% last month, and down from 13.3% in June 2014.
The percentage of REOs was at 4.8% in June, and the percentage of short sales was 5.8%. Note: It has been some time since there were more short sales than REO sales in a given month.
Here are the statistics.
Click on graph for larger image.This graph shows the percent of REO sales, short sales and conventional sales.
There has been a sharp increase in conventional (equity) sales that started in 2012 (blue) as the percentage of distressed sales declined sharply.
Active Listing Inventory for single family homes decreased 10.0% year-over-year (YoY) in June. This was the second consecutive monthly YoY decrease in inventory in Sacramento (a big change).
Cash buyers accounted for 16.0% of all sales (frequently investors).
Summary: This data suggests a healing market with fewer distressed sales, more equity sales, and less investor buying.
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