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Cash Sales: 33 Percent of Sales in March 2014

Approximately 33 percent of respondents reported cash sales (35 percent in February), according to the latest REALTORS® Confidence Index report [1].

Move-up buyers, investors, buyers of second homes, and foreign clients are more likely to pay cash. About 14 percent of reported sales to first-time buyers were cash sales compared to about 60 to 75 percent for international buyers and buyers of property for investment or second home purposes.

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[1] The RCI Survey asks about the most recent sale for the month.

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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Comments
  1. Interesting ! Second home market in NH does not appear to be following national trend. Any comments on that ? ADI tends to be predominately Boston then Hartford. These markets appear to be showing strength in primary home markets. Will this carry over into a come back of 2nd homes that middle & upper middle class consumers seek or are they out of market almost permenantly ? Lower priced (well under 1M)2nd homes, have in my experience, been in duldrums for some time.