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1 in 3 U.S. Homebuyers Are Paying All Cash, the Highest Share in Nearly a Decade Just over one-third (34.1%) of U.S. home purchases in September were made in c
by beambot 3y ago
1 in 3 U.S. Homebuyers Are Paying All Cash, the Highest Share in Nearly a Decade
Just over one-third (34.1%) of U.S. home purchases in September were made in cash, up from 29.5% a year earlier and the highest share in nearly a decade. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
https://www.businesswire.com/news/home/20231108812516/en/1-in-3-U.S.-Homebuyers-Are-Paying-All-Cash-the-Highest-Share-in-Nearly-a-Decade https://www.businesswire.com/news/home/20231108812516/en/1-i...
- gruez 3y agoAFAIK "Paying All Cash" doesn't necessarily mean the buyer has $1M (or whatever the purchase price of the house) saved up. It just means their offer isn't contingent on them securing a mortgage, and they have the money secured somehow (probably through a preexisting loan). https://www.bankrate.com/real-estate/all-cash-offer-upfront-underwriting/#how-to-make https://www.bankrate.com/real-estate/all-cash-offer-upfront-...
- Scoundreller 3y ago100%. Not unusual for a multi-property investor to buy “cash” through a cheque on their line of credit to close quickly (you’ve already decided you want to properly and quick close can be a competitive advantage). Then arrange the mortgage later, possibly after some capital-value improving… improvements.
- margalabargala 3y agoHuh. Apparently it's my expectations that are wrong, not the market. Thanks, I learned something today!