Surprising Real Estate Stats and Facts?

Our friends at Campbell Surveys have published a recent report on the residential real estate market with some very interesting points.

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In part, the report covers: Market share of Bank Real Estate Owned (REO), short sales, and non-distressed properties. Market proportions of first-time homebuyers, current homeowners, and investors. Distinctions between the lower and upper ends of the market, and what is motivating home sellers or buyers to buy or cancell transactions.Current and potential government actions to increase & stabilize home sales.


Bullet points



*The market for home purchases can be divided into segments of 26% fordamaged REO, 23% for move-in ready REO, 14% for short sales, and 36% fornon-distressed properties.

*Forty-three percent of homebuyers are first-time homebuyers, 29% are current homeowners, and another 29% are investors.

*First-time homebuyers account for the majority of move-in ready REO sales while investors account for the majority of damaged REO sales.

*Current homeowners concentrate their home purchases on non-distressed properties and buy comparatively less damaged REO.

*Real estate agents expect appraisal issues to be the No. 1 reason for cancellations of signed purchase and Sales agreements over the coming summer months.

*Only 31% of non-REO home sale listings are unforced or optional; other major reasons for listings include financial stress (including short sales), long distance relocation, and divorce or estate sales.

*Homeowners are choosing to not list homes primarily because of “Falling prices”, followed by “Competition with distressed properties”.

*For first-time homebuyers, “Government incentives to buy (tax credits, mortgage deduction)” is the No.1 motivation to buy.

*For current homeowners buying homes, “Retirement relocation” and “job relocation” are the No.1 and No. 2 motivations to buy, respectively.

*“Sale of residence” is the No. 1 impediment to current homeowners seeking to buy another home.

*“Down payment for mortgage” is the No. 1 impediment to first-time homebuyers seeking to buy a home, followed by “Slow answers on short sale offers.”

*Seventy-six percent of first-time homebuyers accept a mortgage recommendation of the real estate agent, 68% of current homeowners accept a recommendation, and 53% of investors accept a recommendation.

*On average, mortgage servicers take 9.5 weeks to provide a “yes” or “no”response to an offer to buy a short sale property.

*According to real estate agent respondents, “Mandated one-week response time on short sales offers” is the No. 1 rated action that the government could take to increase home sales and stabilize prices.

*According to real estate agent respondents, “Provide consistent one-week ‘yes’or ‘no’ response to offers” is the No. 1 rated action that the mortgage servicers could take to increase short sales.

*According to real estate agent respondents, “Provide consistent one-week ‘yes’or ‘no’ response to offers” is the No. 2 rated action that the asset managers could take to sell REO properties with lower overall losses; the No. 1 rated action is“Turn on utilities for inspections.”