Wednesday
October 22, 2014

More Buyers Show the Money at Closing

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More Buyers Show the Money at Closing

Twenty-nine percent of U.S. residential sales were from all-cash purchases in 2013 – with the percentage trending significantly higher in the second half of the year, according to RealtyTrac’s December and Year-End 2013 U.S. Residential and Foreclosure Sales Report.

About 32 percent of REALTORS® surveyed say they had a sale in December that was a cash sale. Investors and international buyers tend to make up the bulk of cash purchases. About 11 percent of cash sales were from first-time home buyers compared to more than 70 percent for investors and international buyers, according to the December REALTORS® Confidence Index Survey report.

RealtyTrac reports that all-cash sales accounted for more than 50 percent of all residential sales in December in the following states:

  • Florida: 62.5%
  • Wisconsin: 59.8%
  • Alabama: 55.7%
  • South Carolina: 51.3%
  • Georgia: 51.3%

By REALTOR® Magazine Daily News

Read More:

Cash Sales: 32% of Residential Sales