Author Topic: All Cash Home Buying hits a record high.  (Read 1491 times)

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Offline Homer_Simpson

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All Cash Home Buying hits a record high.
« on: March 31, 2011, 09:29:34 AM »

In Orange County and California real estate, DataQuick Information Systems reports similar trends based on county recordings that do not show any purchase loan.
Cash-only sales have more than doubled in Orange County, from a monthly average of 10.4 percent in the past 23 years to a monthly average of 24 percent in the past 12 months, DataQuick statistics show. In January, all-cash sales hit 28.3 percent in the county – the highest for any month since DataQuick started tracking the figure in 1988.
In Irvine, 31.6 percent of the 393 homes sold so far this year were paid for in cash, real estate broker Cathy Haney said. The average sales price of the all-cash deals this year was $657,854, while the median price for all the Irvine homes sold was $535,000, she said.

http://www.ocregister.com/articles/cash-294396-home-percent.html

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