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. … [Read more...]
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