O.C. Home Buyers Purchasing More Non-Distressed Homes

Purchases of non-distressed homes have increased for the first time in four years.

In June Orange County home buyers purchased 2,047 homes that had not been considered distressed or foreclosed. This is the highest number of non-foreclosure transactions since August 2007. In July the number of non-foreclosed resales totaled 2,299.

The number of non-foreclosed resales have been rising since February- just as median sales prices began to rebound.

As for the rest of Orange County home sales – short sales accounted for 18% of all Orange County resales from February through July and distressed sales accounted for 10% of all sales in July.