cash buyers Archives - Rava Realty

Cash buyers are back as mortgage rates rise

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Cash buyers are back as mortgage rates rise

An analysis of citywide sales data by The Real Deal shows that all-cash deals make up a more significant portion of the New York City market than at any time on record, accounting for 60% of condo sales in Manhattan this year. Cash buyers have also successfully scooped up 37% of condo deals in Brooklyn this year and 40% in Queens. All three figures are a record since at least 2018.

This trend can be attributed to rising mortgage rates above 6%, raising borrowing costs ...

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A third of U.S. home sales comes from Cash Buyers

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A third of U.S. home sales comes from Cash Buyers

More and more homebuyers and investors are coming to the negotiating table and closing deals with cash in hand.

A third of all U.S. single-family homes and condominiums sold in the second quarter were purchased with cash, up from 20.6% a year prior, the highest percentage since the first quarter of 2015.

In New York the figure is 52%, but some metro areas saw even higher percentages. The highest was on the Rust Belt due to the late 20th-century loss of manufacturing jobs. In fact, in Buffalo and Detroit, the cash sales were 71% and 68%, respectively.

In general, bargain-hunting and single-family rental investors ...

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