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Daily market update: Sept. 24, 2015

Our daily summary of market news, updated regularly with new tidbits

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We'll add more market news briefs throughout the day. Check back to read the latest. RealtyTrac’s August 2015 U.S. Home Sales Report: Sales of single-family homes and condominiums in August hit an eight-year high nationally, and some cities are on pace to see their best sales numbers in a decade. Out of 204 metro areas surveyed, 58 are on track to reach nine-year highs in home sales this year, and another 22 cities are poised to reach 10-year highs. All-cash sales accounted for 24.5 percent of all single family home and condo sales in August, up from a seven-year low of 23.6 percent in July, but still down from 26.7 percent of all sales in August 2014. ProTeck's Home Value Forecast: San Francisco buyers have averaged 20+ percent down over the last 14 years (loan-to-value ratios 67 percent to 82 percent), while Detroit has averaged loan-to-value ratios between 86 percent and 101 percent. Scottsdale, Arizona, average home prices are 20 percent below all...