Cash buyers are taking over the Arizona housing market
Download mp3 (9.58 MB)If you have several hundred thousand dollars in cash sitting around and available to buy a house, it turns out, you’re not alone.
New data from real estate data firm ATTOM Data Solutions shows nearly 37% of single family home and condo sales nationwide last quarter were all-cash purchases. Here in Arizona, Axios reports that was about 38%.
And, they’re not all investors. About 60% of cash buyers last year were individuals. And, with interest rates as high as they are, that rate could just keep going up.
Tina Tamboer, senior housing analyst with the Cromford Report, joined The Show to talk more about it.
