Home sales continue to soar across the area, the state and the nation. But there are some interesting figures behind those sales, according to RealtyTrac, a California-based firm that tracks home sales and foreclosures across the country.

Home sales continue to soar across the area, the state and the nation. But there are some interesting figures behind those sales, according to RealtyTrac, a California-based firm that tracks home sales and foreclosures across the country.

Here are some samples of what RealtyTrac found:

• All-cash purchases represented 45 percent of all U.S. residential sales in August, up from 39 percent in July and 30 percent in August 2012.

• Institutional investors, or those who have purchased 10 or more properties in the past 12 months, accounted for 10 percent of all sales in August, up from 9 percent in July and 9 percent in August 2012.

• Short sales, or the sale of property for less than any mortgage on the property, are rising, too. Short sales accounted for 15 percent of all U.S. residential sales in August, up from 14 percent in July and 8 percent in August 2012. The states with the biggest percentage of short sales included Ohio at 23 percent.

• Sales of bank-owned homes accounted for 10 percent of all U.S. home sales in August, up from 9 percent in July and 9 percent in August of last year. Again, Ohio was the among the states with the largest percentage of bank-owned homes sold last month at 17 percent.

What’s more, RealtyTrac found that “distressed” homes in Ohio sell for 60 percent less than the median price of homes that have no mortgage-related problems. Only two other states — Pennsylvania and Rhode Island — had higher distressed discounts.

So, what’s the takeaway here? While the housing market is certainly improving, there’s a lot of room for improvement.

Construction jobs growing

Construction jobs in the Dayton area are showing some growth, according to figures compiled by the Associated General Contractors of America.

Last month, the Dayton area was one of 194 metro areas in the nation to see more construction employment last month when compared with August 2012. Area construction jobs grew by 200, or 3 percent, to 7,100 total, the AGCA said.

“It’s been a tough decade for much of the construction industry, considering that many areas experienced peak employment levels in the middle of the last decade,” said Stephen Sandherr, the association’s CEO, in a statement. “More troubling, it will take a lot more growth before significantly more metro areas get back to peak employment levels in construction.”

A milestone

Another local company has reached a milestone. The Miller-Valentine Group, a commercial real estate broker and construction firm, sent notice last week that it is celebrating its 50th birthday.

Bill Krul is the current chief executive of the Miller-Valentine Group. Besides Dayton, Miller-Valentine has offices in Cincinnati, and Charleston and Columbia, South Carolina. Congratulations on 50 years in business.

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©2013 the Dayton Daily News (Dayton, Ohio)

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