All-Cash Share of U.S. Home Purchases in May Drops to Lowest Level Since November 2009 With Institutional Investor Purchases at 15-Year Low and Distressed Sales Drying Up - Seite 2

"As housing transitions from an investor-driven, cash-is-king market to one more dependent on traditional buyers, sales volume has been increasing over the last few months and is on track in 2015 to hit the highest level we've seen since 2006," Blomquist continued. "And while sellers this spring are realizing the biggest average home value gains since 2006, home price appreciation is softening as the supply-and-demand balances tip more in favor of buyers and as banks began to clear out some of their more highly distressed foreclosures that sell at scratch-and-dent prices."

The median sales price of non-distressed residential properties that sold in May was $205,000, up 6 percent from the previous month and up 9 percent from a year ago. May was the 37^th consecutive month where non-distressed median home prices have increased on a year-over-year basis.

Meanwhile the median sales price of distressed residential properties -- those that were in some stage of foreclosure or bank-owned -- that sold in May was $116,192, up less than 1 percent from the previous month but down 2 percent from a year ago. May was the first month with a year-over-year decrease in distressed median sale prices following 13 consecutive months with year-over-year increases.

The median sales price of a distressed residential property was 43 percent below the median sales price of a non-distressed residential property in May, the biggest distressed discount since January 2006 when RealtyTrac first began tracking this metric.

Share of distressed sales drops to new low
The share of distressed sales dropped to a new low of 10.5 percent in May, down from 15.4 percent in April and down from 18.3 percent a year ago to the lowest level since January 2011 -- the earliest that RealtyTrac has data for this metric.

"The South Florida real estate market is the healthiest and most balanced in a decade. Real buyers and real sellers are back as we see the investor and distressed market fade," said Mike Pappas, CEO and president of Keyes Company, covering the South Florida market. "Our affordability factor is still strong due to reasonable pricing and low interest rates. With our economy strengthening on all fronts our future looks bright."