Approximately 32 percent of respondents reported cash sales in April (33 percent in March), according to the latest REALTORS® Confidence Index.  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.
 The RCI Survey asks about the most recent sale for the month.