2014 Total Housing Purchases Slightly Lower as All-Cash Home Purchases Fall

First-time homebuyers stand a better chance in home bidding wars as the amount of all-cash purchases decline and the elimination of post-payment interest rates.

September 26, 2014

Photo: Creative Commons

Total existing home sales dropped 5.3 percent from last year and all-cash purchases accounted for 23 percent of the purchases, a 6 percent drop from July 2014. Despite the decline in all-cash investors, NAR President Steve Brown believes the housing market is in good shape now that more first-time buyers have the opportunity to finance a home.

 

The National Association of Realtors has the full story

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