The “cash is king” adage apparently remains true as almost 33 percent of U.S. home sales so far this year were cash deals.
In its Oct. 7 report, Realtor.com analyzed the cash homebuying market, often dominated by investors, equity-rich households, and second-home purchasers.
While that percentage is down slightly from the same time last year, all-cash purchases have risen substantially from pre-pandemic levels of 28.6 percent of sales, according to the report.
“Cash buyers have long been a fixture in the market, but their influence is more pronounced today than in pre-pandemic years,” Danielle Hale, chief economist at Realtor.com, said in the report….