Approximately 32 percent of REALTOR® respondents reporting on their last sale in December reported a cash sale. Many REALTORS® have reported that cash buyers typically win against those buyers needing to obtain a mortgage. Investors and international buyers typically make a cash purchase. About 11 percent of reported sales made by a first-time buyer were cash sales compared to above 70 percent for investors and international buyers. See the December REALTORS® Confidence Index Survey report for more information.