For a while, the U.S. housing market was filled with investors paying cash for real estate. It was causing a serious problem in available inventory and existing home sales. Since the housing market has been gaining speed and more homes are being sold, there’s a bigger need for property.
Cash Deals | North Raleigh Real Estate Agent
In 2014 38 percent of all residential sales were all cash. That was just the second quarter of 2014. The previous quarter rang in at 42 percent of all sales. The third quarter of last year held tight at 36 percent and since then, we’ve seen cash sales dwindle more and more.
According to businessrecord.com, “This data, combined with the drop in institutional investor activity to a three-year low, signifies that the housing market recovery is transitioning from one that is driven largely by investors and other cash buyers to one that is going to be more reliant on first-time home buyers and other non-cash buyers. Wealthy Americans, downsizing empty nesters, foreign buyers flush with cash from regions like Russia and the Far East, and U.S.-based institutional investors make up the eclectic group involved in the all-cash market.”
The website also states that “Institutional investors that purchase at least 10 properties in a calendar year - made up approximately 4.7 percent of all sales of single-family homes and condominium units in the second quarter of 2014. That's down from 5.3 percent in the first quarter and down from 5.8 percent for the same period last year.”
Stay tuned for more information from our real estate agents regarding the current state of the housing market! We will have September home sales, both existing and new reports to share with you!
With the lower interest rates, less cash paying competitors and increased sales, it's a great time for buyers to really consider purchasing a home before the end of this year. With time left to search, as well as sell current homes, now's a great time to contact our North Raleigh real estate agent!
Also, if you’re considering selling your home, it's time to act now! Contact Roark Premier Team today and get started with the process of listing your home on the market! We guarantee to sell your home in 59 days or less! If we don’t, the listing fee is waived! So what are you waiting for? Call now! Our North Raleigh real estate agent is standing by to help you get your home sold during one of the busiest times of the year for real estate!