Jacksonville No. 1 in total home sales growth

Sales counts up 43% from June 2012

Author: Ashley Mitchem, Morning traffic, news reporter, amitchem@wjxt.com
Published On: Jul 30 2013 12:13:56 PM EDT   Updated On: Jul 30 2013 06:41:54 PM EDT
Home For Sale
JACKSONVILLE, Fla. -

The latest numbers show Jacksonville has the largest growth in total home sales throughout the entire country, according to RealtyTrac's 2013 U.S. Residential Sales Report.

In June, Jacksonville's sales counts were up 43 percent year over year to 42,413, from 29,567 in June 2012.

That ranks No. 1 in the U.S. among the 50 largest metros.

Realtors say home sales have increased every month since June 2012, and each month the increase has been greater than the month before.

"They're selling and they're coming on the market and they're getting multiple offers," said David Butler, of Watson Realty.

He said home values have been rising due to a combination of factors, including a drop in foreclosures that had been putting downward pressure on prices, and a tight supply of houses available for sale.

"It's wonderful," Butler said. "I just met with a seller the other day that I told him, I said, 'I'm so glad we're having this discussion today because if it would have been last July this would have been bleak. I would have said, oh man, this is going to be difficult.'"

Here's a breakdown of the types of sales in June:

Institutional investor percent of sales was 16 percent, down from 17 percent a year ago.

Cash percent of sales was 42 percent, down from 46 percent a year ago.

Short sales percent of sales was 26 percent, up from 16 percent a year ago.

Foreclosure sales percent of sales was 11 percent, up from 10 percent a year ago.

"I'm not going to say the mortgage end has gotten any easier because it's still a bit difficult," Butler said.

Realtors also say even though short sales are up, they are still the most difficult and most timely to sell.