Positive Equity

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NINE IN 10 HOMES SOLD IN POSITIVE EQUITY TERRITORY

Equity home sales posted their highest level since the housing crisis began, reaching more than 90 percent of all home sales. Meanwhile, seasonal factors, combined with shrinking affordability cooled pending home sales in June.

The share of equity sales – or non-distressed property sales – continued in an upward trend, rising in June to 90.3 percent, up from 89.2 percent in May.  Equity sales have been rising steadily again since the beginning of this year.  June marks a full year that equity sales have been more than 80 percent of total sales and the first time they have risen above 90 percent. Equity sales made up 79.7 percent of sales in June 2013.

The combined share of all distressed property sales declined further in June, dropping from 10.8 percent in May to 9.7 percent in June.  Distressed sales continued to be down by more than 50 percent from a year ago, when the share was 20.3 percent.

California pending home sales fell in June, with the Pending Home Sales Index (PHSI)* dropping 2.8 percent from 110.1 in May to 107 in June, based on signed contracts.  Pending sales were down 5.9 percent from the revised 113.8 index recorded in June 2013.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

Source: California Association of Realtors

Category : Blog

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Since 1970 Rinetti & Co. Realtors has been selling residential real estate throughout the greater East Bay including San Leandro and Pleasanton. We are boutique real estate company with a single focus, exceptional customer service from start to finish. Rinetti & Co. has the experience and practical knowledge to adapt to changing market conditions while providing our clients expert advise when buying or selling a home. If you’re considering making a move please contact us and see the difference Rinetti & Co. Realtors can make for you.

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Rinetti & Co. turned out to be the perfect place for me to do business...I would not hesitate to recommend their services to anyone buying or selling property. - Mary K.

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1103 MacArthur Boulevard
San Leandro, CA 94577

(510) 568-6171

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231 Old Bernal Avenue, Suite 5B
Pleasanton, CA 94566
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