Oct
04
Why All-Cash Home Buys are Rebounding
ByWith 2,000 attendees and an outstanding speaker lineup, you can’t afford to miss RealShare APARTMENTS in Los Angeles on October 21-22.
Blomquist: “The lower FHA premiums and gradually relaxing lending standards, combined with the threat of rising interest rates, are getting more people off the home-buying fence.”IRVINE, CA—Two groups of home buyers in particular—foreign and domestic cash buyers—are spooked by the recent volatility in the stock market and so are retreating back to the relative safety of US real estate, RealtyTrac’s VP Daren Blomquist tells GlobeSt.com. As we reported recently, Blomquist said, “The share of cash sales nationwide in August bounced back from a seven-year low in July, and the month-over-month increase in cash sales share was more pronounced in markets that have traditionally been magnets for foreign cash buyers, including Boston, Las Vegas, San Francisco, Seattle and New York.” We spoke with Blomquist exclusively about the rebound in all-cash home sales and what might be causing it…
