blockitecture leaderboard

Cash Buyers are Dominating the Real Estate Market

Kriston Capps shares news of a report by RealtyTrac.com showing just how much, and where, cash homebuyers are blocking the middle class from homeownership.

"Almost 40 percent of all U.S. home sales in the second quarter of 2014 were all-cash purchases, according to the latest report from RealtyTrac.com. Just about 5 percent of home sales were purchased by institutional buyers—companies or entities that bought more than 10 properties over the course of a year. Both of these figures are down from the last quarter, and down still more so from 2012, when housing prices hit their nadir," reports Kriston Capps.

Some states are seeing more all-cash purchases than others: "For a handful of states, nearly half the home sales in Q2 were all-cash buys: Florida led the way (57.9 percent), followed by Michigan (49.7), New York (48.8), and Nevada (48.3). In Virginia, the state with one of the lowest figures, all-cash purchases still accounted for more than one-fifth of home sales (22.2 percent)."

The article includes a lot more data about the types of houses being bought with cash around the country.

Full Story: Where Cash Buys Are Hitting the Housing Market Hardest

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Red necktie with map of Boston

For dads and grads: tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95

Wear your city with style!

100% silk scarves feature detailed city maps. Choose from six cities with red or blue trim.
$55.00
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!