The number of non-investment home buyers purchasing with cash rose to record highs — 29 percent — in the first quarter of this year and Baby Boomers led the pack, according to the National Association of REALTORS®. Older home owners have accumulated years of equity in their homes and when it comes time to buy again, many are choosing to pay with cash rather than take out another mortgage, said NAR Chief Economist Lawrence Yun. Read more from NAR.
In other headlines:
Chicago home prices rising slightly faster than nation – Chicago Sun-Times
Uptick in Lower-End Housing Could Get More Millennials Off Sidelines – NAR’s Daily Real Estate News