From the Latest RCI: Cash Sales 27 Percent of Residential Sales | Bedford Corners NY Realtor

As reported in the latest REALTORS® Confidence Index report (RCI), approximately 27 percent of REALTORS® reported making cash sales in July, slightly dowm from 29 percent in June. The percentage of cash payments fluctuates from month to month, currently being towards the upper end. The high preponderance of all-cash sales appears to be due to stricter mortgage/underwriting standards, and purchases by investors and second home buyers, who frequently pay cash, possibly edging out buyers needing to secure a mortgage.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.