BrokerageIndustry News

Cash is still king

Cash buyers account for more than 25% of U.S. real estate deals
Published on Jul 8, 2010

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

This may be a buyer's market, but not all buyers are on equal footing in the homebuying process. Cash is still king, and those who have it are taking full advantage of the comparatively speedy and reliable closings they offer sellers.

Cash buyers have made up at least a quarter of home purchasers since the beginning of 2010, a figure buoyed by more affordable home prices and a substantial volume of distressed properties.

According to the National Association of Realtors' monthly Realtors Confidence Index survey, buyers paid all in cash in 15 percent of transactions in October 2008, the first month the association conducted the survey.

Comments