We are all looking for signs of the recovery. Let’s face it, 4 years of bad news really (sucks) is tough to deal with.
So this report of cash investors coming back to the real estate market is great news. They are the proverbial “Putting your money where your mouth is” people that will form the base. It is easy to leverage real estate deals with other peoples money, but when it is your own cash entering the deal you know that a base if forming.
If you are looking for some good news to tell your buyers and sellers this is probably it.
The share of home sales involving all-cash transactions was 26% in January, up from 18% a year earlier, according to the National Association of Realtors. The figures come from a survey of members about their most recent transactions. Many home buyers also are paying cash, but investors are largely using cash so they can avoid paying interest charges on loans and get a larger return on their investment.
Other NAR data also show a pickup in investment activity.
Home purchases made by buyers identified as investors climbed to 17% in January, up from 15% in December and 12% in November. via USA Today
{ 3 comments… read them below or add one }
23.9 percent of home purchases in Santa Clara County, California for the month of January appear to have been made in cash, because no mortgage was recorded on the date of sale. When your ready to make the move and invest let use know!
Probably a good time to be a buyer as well.
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