Cash sales’ share of total purchases skyrockets by nearly a third in 2 months

Posted by Bonnie Martin Designated Broker on Thursday, September 26th, 2013 at 9:51am.

moneyhouse_oleg-doroshin_450inman.com - All-cash home sales skyrocketed during the summer of 2013, with their share of total sales growing by close to a third from June to August amid sustained appetite from investors, a recent spike in interest rates and tight inventory.

Cash purchases’ share of total sales leaped to 45 percent in August from 39 percent in July, according to a report release by RealtyTrac today. The rise came on the heels of a similarly abrupt month over month jump in cash purchases’ marketshare in July, when it rose to a revised 39 percent from a revised 34 percent in June, according to RealtyTrac data.

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Photo:  ©[Oleg Doroshin]/123RF.COM

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