Are there more Cash Buyers Today?
Posted by Paul Burrowes on
Inside this Article:
- Who Are These Cash Buyers?
- Drivers of All-Cash Purchases
Mortgage interest rates have risen from their all-time lows in recent years, and the percentage of buyers who pay cash is growing. Whether in outlying areas like San Lorenzo Valley and Scotts Valley or in town centers like the City of Capitola, there has been a noticeable upsurge in the number of property transactions completed entirely with cash over the past few months. Since October 2022, people who bought homes without the help of loans have made up more than 25% of the nation's real estate market. The percentage of homes sold in January 2024 reached a record-breaking 32% , the highest since June 2014, when a sizable chunk of the market…
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