Fresno Bee Newsroom Blog

Real Estate: Fresno investor and cash purchases remain steady in June

When foreclosures swarmed the central San Joaquin Valley and other communities nationwide, foreclosure tracking services popped up to record the action.

Now that foreclosures have slowed the online companies have decided to expand their services by providing residential sales and home price reports.

RealtyTrac is taking it one step further in its first U.S. Residential Report released Thursday. The company takes a look at the make up of home sales by pulling out the percentage of cash purchases, investor purchases, short sales and bank-owned property for large metropolitan areas including Fresno.

In June, institutional investor purchases, or sales to non-lending entities that purchased at least 10 properties in the last year, made up 8% of the sales in Fresno which was unchanged from May, the report said.

Cash purchases represented 29% of the home sales in June, up from 28% in May.

Last month, short sales made up 23% of the sales compared to 24% in May. And bank-owned property represented 16% of the homes sold which was up from 15% the month before.

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