Higher Percentage of Cash Buyers
I listened to a podcast this morning and more than sixty percent of all the real estate transactions in Maryland last month were CASH buyers! Now I don’t know what the percentage is in Utah, but his is crazy, its staggering, especially when mortgage rates are so low right now.
The cash buyer trend shows some interesting things with the real estate market:
1. Real Estate Investors are back. Many cash buyers are real estate investors.
2. People don’t have anything better to invest their money in right now. When you consider that 15 year fixed mortgages can be obtained in the 3% range, you know that home buyers feel that their mortgage interest savings are better than any other investments they can get right now.
I thought these stats were pretty interesting. If you happen to be looking for homes for sale in Bethlehem, use this link.
