More Buyers Show the Money at Closing
February 7, 2014
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
Updated: June 22, 2018