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Real Estate Trend: More Buyers Pay In Cash

Posted By susanne On January 24, 2012 @ 4:38 pm In Business Outlook, Consumer News and Advice, Finance and Economy, Home Owner News,Real Estate Trends,Today’s Marketplace. In another sign that investors are more important to residential real estate markets than ever, nearly one out of three home sales in December went to buyers who paid all cash. In fact, so many investors are winning sales with cash and shorter closing timelines that they can offer lower bids, which may be may be depressing prices, especially on distressed sales, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. In December the overall proportion of cash buyers in the housing market surged to a record 33.2 percent, up from 29.6 percent a year earlier. Some 74 percent of investors used all cash to buy homes last month.  Investors accounted for 22.8 percent of home purchases in December 2011, up from 22.2… Read more

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