Buyers Flocked To Foreclosures In 2013

Buyers Flocked To Foreclosures In 2013

Home buyers pay cash, buy more foreclosed homes in 2013
Homebuyers and investors were looking for a bargain, last year.

Foreclosed and distressed homes accounted for more than 16-percent of all home sales in 2013.

That's up 1.7 percent since the year before, according to Realty-Trac.

US home sales in general were up 10-percent, year-over-year.

A surprising number of people just paid with cash. Just over 29-percent of home purchases were all-cash deals -- up almost 10-percent.

If you assume most of those were institutional investors, you'd be wrong. Realty-Trac says hedge funds, private equity groups, and other institutional investors only accounted for just over 7-percent of all home sales.

In some markets, it was much higher than that. Investors accounted for 18-percent of homes sales in Las Vegas, 25-percent in Atlanta, and a whopping 38-percent in Jacksonville, Florida.
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