More home buyers are bringing all-cash offers to the table

all-cash.jpgAll-Cash Transactions Still Dominate
All-cash deals now account for about 40 percent of U.S. home sales, according to CoreLogic, up from about a quarter of home sales historically. And more of these buyers are individuals rather than institutional investors.
Wealthy people, foreigners, and retirees offering cash are helping to make up for the alarming absence of first-time buyers. A recent survey from the National Association of Realtors (NAR) shows the share of investors has declined from 24 percent in 2012 to 19 percent last year and the first quarter of this year. “Since the supply of distressed properties has thinned out, we expected the all-cash sales would be falling but that’s not the case,” says NAR chief economist Lawrence Yun. CoreLogic’s data shows that the share of cash sales remains high among non-distressed properties, which are less attractive to investors.
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