According to the National Association of Realtors, all-cash sales represented 33 percent of all existing-home transactions in September, up from 28 percent a year ago. In additon, 74 percent of investors paid cash for properties in September.
Residential real estate is still in hot demand among institutional investors, and even growing stronger.
Investors or firms that purchase 10 or more properties accounted for 14 percent of all sales on residential properties in September, up from 9 percent in August, according to a new report by RealtyTrac. September marked the highest monthly percentage of institutional investor purchases since RealtyTrac began its tracking of such transactions in January 2011.
Source: “RealtyTrac: Investor demand boosts residential property sales,” HousingWire (Oct. 24, 2013)