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What percentage of homes were paid in CASH

January 10,2023 | Posted By Dinorah Carmenate in re
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Did you know that about 1/3 of all US home purchases were paid in CASH?

Now that’s exciting because it shows that home buyers and investors still see the real estate market as a great place to invest their money.  Riverside County had the most cash buyers, while Northern CA Bay Area was one of the lowest areas where buyers paid cash.
For even better news, the government is once again looking into giving first-time homebuyers a tax credit of up to $15,000.  Additionally, we have some great first-time buyer programs where you can put as little as 1% down payment and obtain grants and loans for the balance.  Or how about putting a 3.0% down payment and then obtaining grants for closing costs that you do not have to pay back?
For our Southern CA area, just an FYI, I am still seeing multiple offers on properties, properties are selling at or slightly higher than the list price and most importantly, homes are selling.  It is taking a bit longer these days and I know as we get into the prime real estate months, the days on market to get a home sold will be reduced significantly and prices will remain steady.
Whatever your real estate needs are in 2023, CALL ME, and let’s review your options and put a plan together.

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Source:  National Mortgage Professional


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