RealtyTrac® recently released a report stating that all-cash home sales have reached a new high in the U.S. See All-Cash Share of U.S. Residential Sales Reaches New High in First Quarter Even as Institutional Investor Share of Sales Drops to Lowest Level Since Q1 2012.
All-cash purchases in the U.S. rose to 42.7 percent of all sales in the first quarter — with some markets, such as Las Vegas, Nevada, seeing greater than 50 percent of residential sales comprised of all-cash purchases.
What’s the current sales mix in the Reno-Sparks market? Of the 1,432 condos, town homes, and houses sold in the first quarter of 2014 in Sparks and Reno, Nevada, 443, or 30.9 percent were all-cash purchases.
Here’s a breakout of 1st-quarter sales by “how purchased”…
- Conventional: 41.6%
- Cash: 30.9%
- FHA: 18.3%
- VA: 7.3%
- other: 1.9%
related post: Cash purchases may be subsiding…locally
