Cash Sales: 32 Percent of Sales in April 2014

Approximately 32 percent of respondents reported cash sales in April (33 percent in March), according to the latest REALTORS® Confidence Index. [1] Move-up buyers, investors, buyers of second homes, and foreign clients are more likely to pay cash. Baby boomers with accumulated equity gains are reported as trading down and also likely to pay cash. About 13 percent of reported sales to first-time buyers were cash sales compared to about 70 to 90 percent of buyers of property for investment purposes and international buyers.

Capture

[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.

More Posts