• NEWS 90.9 KXJZ Sacramento
  • 90.5 KKTO Tahoe/Reno
  • 91.3 KUOP Stockton
  • 88.1 KQNC Quincy
  • MUSIC 88.9 KXPR Sacramento
  • 91.7 KXSR Groveland/Sonora
  • 88.7 KXJS Sutter/Yuba City

Cash Home Sales At Record High



Share | |
(Sacramento, CA)
Tuesday, March 01, 2011

Historically, 14% of all houses and condos have sold for cash in California. Then this past January, the rate was nearly 31% - a record, and about 1.5% higher than January of 2010.

The numbers come from DataQuick Information Systems. Andrew LePage is an analyst with the real estate research firm.

"For some people they're using cash because they can't qualify for a loan. Others think this is a good place to park their cash right now, that in the long run housing will prove a good investment. These are people who figure we can't be too far from a price bottom."

Cash sales were particularly strong in the Sacramento area where 37.5% of all homes sold were purchased without a mortgage. Merced County had the region's highest rate of 46.5%

We Get Support From:
Become a Supporter

We Get Support From:

Become a Supporter