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Decline in All-Cash Buyers Leads to a More Affordable Housing Market

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Getting into a home maybe much easier for many, now that all-cash buyers have significantly dropped off.  Recent data, from Zillow and other, suggests that buying a home for most families with a traditional mortgages has been helped because all cash buyers are leaving the market.

Whereas, some of the least expensive housing areas like Miami-Dade have over 59% all cash offers in the first quarter of 2015, the San Francisco  market peaked at 36% in 2010.  Post purchase refinancing also suggests that the about a third of the 29% of Bay Area homes are not all cash but instead are traditionally financed. Now that many of the institutional all cash buyers looking to create a rental portfolio have left the market, price pressure and the drop in the number of buyers makes home buying more of a possibility.

What does this mean to the millions of families wanting to buy a home with a traditional mortgage?  It means homes will be more fairly priced and a higher likelihood of moving into a home of their dreams.

If you are looking for you dream home, please contact us today or give us a call at (855) 908-3610.