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Daily market update: Sept. 24, 2015

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

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...