Share
The percentage of cash sales was 29 percent in June, compared to 28 percent in May, according to the latest REALTORS® Confidence Index. The proportion of cash sales is substantially higher than the rate prior to the downturn of the housing market in 2008. The high preponderance of all-cash sales appears to be primarily due to stricter mortgage and underwriting standards as well as purchases by investors and second home buyers, who typically pay cash, have edged out buyers needing to secure a mortgage from a lender.
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.
