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.
(NAR) -- Approximately 27 percent of REALTORS® reported making cash sales in August, unchanged from July’s figure,