There is a good opportunity to buy a house with a loan, and cash buyers have dropped sharply

A good opportunity has emerged to buy a house with a loan, and there has been a sharp drop in cash buyers. Over the past four years, cash buyers in Phoenix have been dominant until now. Cash…

Cash buyers have been dominant in Phoenix for the past four years and still are today. Cash buyers, mostly investors, have dominated the market for the past four years, but a report this week showed that of the 2,188 homes sold last month, only 44 were cash. Phoenix will face a long-term housing sales shortage, and the withdrawal of cash buyers will be a great opportunity for mortgage buyers. The report also pointed out that cash buyers are withdrawing because house prices continue to rise, while the number of houses for sale on the market is very limited, leaving little room for bargaining. There are also very few short-sold houses and bankrupt houses with favorable prices, causing investors to gradually withdraw from the market. In fact, the supply of homes for sale is declining at a rate of 7% every year. Only 5,960 homes were on the market last month. However, the number of sales last month increased by 24% compared with February. This is a sign of peak home buying season. At the same time, housing supply issues have also affected housing prices, with the price per square foot exceeding the $100 mark last month. This is the first breakthrough since September 2008. Although cash buyers are gradually withdrawing, investors will still be an important force, and the proportion of cash buyers is still relatively high. In March, sales to cash buyers accounted for 36% of home sales. It accounted for 41.5% a year ago. This data is still surprising, because in March 2008, only 16.1% were cash buyers. For more information about real estate, please contact Tinna of Goldtrust Realty (480)287-0180 E-mail:Goldtrustrealty2010@gmail.com