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Twin Cities: 1 in 6 Homes Purchased With Cash in 1st Half of 2010

Based on data from NorthstarMLS, I was able to put together the following chart that shows how home buyers in the first 1/2 of 2010 were financing their purchases.  Fully 1 in every 6 buyers paid in cold hard cash, a huge increase from the 1 in 20 to 1 in 25 ratio more typical of this market.

While our MLS does not track the data necessary to confirm it, in my experience the vast majority of cash purchases are investors/rehabbers – I would put the number at 75% or higher.

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3 comments
Isabella
Isabella

I'm all about renting these days, but I can totally understand the motivation toward owning your own home. My only problem is I want to put a large down-payment to buy a home. How much should I put down?

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TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.