WSJ Reports Half Of All Homes Are Purchased With Cash

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WSJ Reports Half Of All Homes Are Purchased With Cash

housemoneycashhome*600The Wall Street Journal says “more than half of all homes sold last year and so far in 2013 have been financed without a mortgage,” according to economists at Goldman Sachs Group. The analysis reveals approximately 20% of all homes sold before the housing crash were “all-cash” sales, but within the last seven years the share of all-cash buyers has more than doubled. Speculation as to who is responsible for all of the cash purchases is difficult to pinpoint, however more than likely they are a combination of investors, foreign buyers, and wealthy homeowners foregoing the mortgage route before closing a sale. Read the full article here. Curious about the benefits of an all-cash buy or what’s happening in the Colorado housing market? Contact Fuller Sotheby’s International Realty at 303.893.3200 or visit coloradomicroreports.com.

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