Cash's grip on the housing market loosened during the first quarter as investors pulled back and more traditional buyers waded into the market, according to a new report from Zillow. All-cash deals still accounted for well over half of sales in some markets, with cash buyers continuing to feast on the cheapest homes -- a pattern that has caused headaches for first-time buyers, Zillow said. Entry-level buyers appear to be facing some of their stiffest competition from investors in markets likes Tampa, Detroit and Miami, where more than 80 percent of all sales in the lowest price bracket were cash deals. Slicing up cash sales by price tiers points towards cash sales' disproportionate impact on first-time buyers. In 27 of the 30 largest metros, they accounted for more than a third ...
Mar 26, 2014 by Andrea V. Brambila
Markets & Economy
Dec 20, 2013 by Paul Hagey