Cash Sales: 27 Percent of Residential Sales

by 26 Sep 2012
(NAR) -- Approximately 27 percent of REALTORS® reported making cash sales in August, unchanged from July’s figure, according to the latest REALTORS® Confidence Index survey. The percentage of cash payments fluctuates from month to month. The high preponderance of all-cash sales appears to be due to stricter mortgage underwriting standards, and purchases by investors and second home buyers, who frequently pay cash, possibly edging out buyers needing to secure a mortgage.

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