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In June, 58% of the sales in Nevada were made in all-cash, according to a report by RealtyTrac. But it’s not just Nevada. All-cash deals in Florida comprised 57% of home sales during the month; in the state of New York, it was 51%, and in Vermont, a whopping 80%. In markets like these, lingering foreclosures and depressed home prices are attracting private equity firms and other investors looking to buy before home prices go much higher, RealtyTrac said. In other markets, where there are fewer distressed properties, the all-cash deals are a lot less prevalent. Nationwide, cash deals comprised 30% of home sales in June, down from 31% a year earlier, RealtyTrac reported. The biggest metropolitan hotspot for investors right now is Atlanta, where all-cash deals represented 42% of sales in June and investors represented 27% of buyers, the highest ratio in the country. [Read this article]
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