Approximately 30 percent of REALTORS® reporting on their last sale had a cash sale (32 percent in February). Investors and international buyers typically pay cash. About 9 percent of REALTORS® reporting a sale to a first-time homebuyer also reported cash sales, while over 70 percent of reported last sales to investors and international buyers were for cash. This is based on data from the March REALTORS® Confidence Index Survey.
What Does This Mean for REALTORS®?
The first time buyer faces a challenge—particularly given that investors are in many cases paying cash—as are second home buyers and international buyers. The key to success appears to be getting financing in place.