Jay Fergusonjay@deepcreekvacations.com301-501-0420
Menu

Investors buying with cash pressure home prices

by KERRI PANCHUK

Monday, January 23rd, 2012, 7:51 am

Investors are gobbling up residential real estate with cash, pushing national home prices lower, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

The overall proportion of cash buyers in the housing market soared to a record 33.2%, compared to 29.6% a year earlier.

Meanwhile, the investor class relied heavily on cash to buy homes, with 74% of investors using cash to buy homes in December.

Investors represented 22.8% of home purchases in December alone, up slightly from 22.2% a month earlier.

More here.

Buying or selling real estate in Garrett County or Deep Creek Lake, Maryland? Call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues!

877-563-5350 – toll free