Tuesday, June 16th, 2009The current market offers a variety of low-priced, move-in-ready homes as well as properties that are in need of significant repairs. One thing they have in common is the people they attract: Investors. As home prices dropped over the last year(s), Sacramento has also seen a steady rise in the percentage of cash sales. Statistics retrieved from the MetroList® MLS database show that 25.1% of sales in May 2009 – 467 units – were purchased with cash. Compared with last month, where April had 503 cash-sales (accounting for nearly 28% of all sales), there is a 7.2% decrease. May’s cash-only sales, however, show a 158% increase from the 181 cash-only sales (10.2%) of May 2008. The charts below, reflecting both single family home and condo sales, offer more information about this occurrence. For more data on cash sales, please contact Tony Vicari @ 916-437-1205.
Continue reading: Sales Volume and Median Sales Price Increase, Cash-only Purchases up 158%
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