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Region 5: Buyers who made no down payment were the largest share of sales in the 4th quarter in Region 5 (Alabama, Florida, Georgia, Mississippi, Virgin Islands, and Puerto Rico). A clear majority of home buyers at 60% put down less than 7%.
Region 6: The share of both investment properties and cash purchases increased in Region 6 (Michigan and Ohio) since the end of the Federal tax credit. This trend should not come as a surprise as investors were not eligible for the credit and often pay cash, while first-time buyers were apt to take advantage of the credit.
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