Cash is King…or Cash is Queen – however you want to spin it. The home buying market in Green Bay, WI, De Pere, WI, Appleton, WI – really EVERYWHERE across the US has been a strong sellers market. That’s putting it lightly.
Bidding wars are taking place on most homes and the ones that come out on top?? CASH OFFERS. Share of cash deals are approximately 25% of all home sale purchases. I’m taking about vacation home purchases, first time home buyer’s purchases, investment property purchases…
Now the percentages are fairly different among the different types of home sale purchases..
As of April 2021:
Non-first time home buyers make up 33% of cash offers
Primary Residence Home Buyers make up 15% of cash offers
Vacation Home Buyers make up 61% of cash offers
Those stats are pretty wild. What’s also wild is that 50% of all home buyers that are obtaining a mortgage made a down payment of 20% or more in April 2021. That’s pretty impressive seeing how only a number of years ago putting a super low down payment or no down payment at all was all the rage.