More buyers are bringing just cash to closing. All-cash purchases in the first quarter comprised 34% of all single-family sales—the highest level since the first quarter of 2015, according to a new report from ATTOM Data Solutions, a housing research firm.
As home buyers race to compete in a fierce housing market marked by bidding wars, more buyers are bringing cash to try to triumph over the competition. The tactic has been shown to work for those who can afford to do so. Read more: All-Cash Buyers More Likely to Win Bidding Wars
Cash sales represented the largest share of all transactions in the first quarter in Flint, Mich.—comprising 61.8% of all home sales, according to ATTOM Data Solutions’ findings. Detroit, Mich., had the next highest at 61.5% of sales, followed by Utica, N.Y. (54.8%); Naples, Fla. (54.4%); and Ann Arbor, Mich. (53%).
Several housing markets are seeing a rapid increase in the number of cash sales in their markets. The following chart shows the housing leaders with the largest upticks.
On the other hand, the markets where cash sales comprised the smallest share of transactions in the first quarter were: Kennewick, Wash. (17.2%); Augusta, Ga. (17.9%); Lincoln, Neb. (18.1%); Washington, D.C. (19.4%); and San Jose, Calif. (19.4%).
Source:
“Top 10 U.S. Metros Where Cash Home Sales Are on the Rise,” ATTOM Data Solutions (April 29, 2022)
The Caton Team is here to help.
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words. Testinmonials.
How can The Caton Team help You?
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 | EMAIL | WEB | BLOG
Get exclusive inside access when you follow us on Facebook & Instagram
HOW TO SELL during COVID-19 – HOW TO SELL – HOW TO BUY during COVID-19- – HOW TO BUY – MOVING MID PANDEMIC – TRUST AGREEMENTS and HEALTH CARE DIRECTIVES – OUR TESTIMONIALS
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?
The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan
Want Real Estate Info on the Go? Download our FREE Real Estate App: Mobile Real Estate by The Caton Team
Berkshire Hathaway HomeServices – Drysdale Properties
DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008
The Caton Team does not receive compensation for any posts. Information is deemed reliable but not guaranteed. Third party information not verified.
The Real Estate Beat 