From NMN:

Nearly four out of every ten homes sold in 2011 have been purchased for cash on the barrelhead, according to a preliminary count by Housing Intelligence.

Despite record low mortgage rates for most of the year, 38% of all homes sold will be all greenbacks, no mortgage involved, HI reports. That’s up from 34% in 2010 and double the rate of all-cash deals recorded in 2006.

And the trend is likely to continue, at least in the near term, the research wing of the Hanley-Wood publishing company suggests, as long as investors continue to take down a big share of the properties for sale, especially in which the previous owner was in some sort of duress.

For the record, 20% of all housing sales in 2007 were for cash. In 2008, the figure jumped to 26%. And in 2009, it moved up again to 31%.

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How did we do around San Diego County in 2011?

Price Range Cash Purchases Total Sales %%
$0-500,000
7,402
25,271
29.3%
$501-$1.0M
882
5,181
17.0%
$1.0 million+
500
1,460
34.2%
Total
8,784
31,912
27.5%

I haven’t come across one buyer yet who had to pay cash because they couldn’t qualify for a loan. 

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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