Many Massachusetts Home Buyers are Paying Cash
Over half of Realtors® surveyed have been involved with at least one all-cash home sale since the start of 2017.
The June “Hot Topic” question asked by the Massachusetts Association of Realtors (MAR) queried agents about how many buyer or seller transactions have been cash deals since the start of the year. Of those Realtors® who responded, about 47 percent reported that some of their transactions had been cash deals. Another 44 percent responded that they had seen no cash deals since the start of the year. A remaining nine percent reported that either half of their transactions (5%) or more than half (4%) of their transactions had been cash deals.
“We see prices continuing to go up, but there is still a segment of buyers who are paying all cash when buying a home. It’s good for sellers, but can be especially hard on first-time homebuyers who need to have a mortgage,” said MAR President Paul Yorkis.
If you are a first time homebuyer in Massachusetts, give yourself an advantage in this competitive market by working with a member of the Massachusetts Association of Buyer Agents. These agents are dedicated to making sure that you, the buyer, have the best possible experience when buying a home in Massachusetts. Find a MABA agent here.