Cash buyers purchasing one-third of homes: report ...Middle East

Homebuyers paying with cash purchased more than a third of homes sold in April – the highest share in nearly a decade, according to a new report from real estate brokerage Redfin. The share of cash purchases has risen alongside mortgage rates that have pushed up monthly payments outside of the budgets of many prospective buyers. Buyers who can pay in cash might choose either to avoid added monthly costs of a mortgage altogether or take on the mortgage and reinvest their cash in assets with greater returns, Redfin Senior Economist Sheharyar Bokhari said. And buyers without the cash reserves to float the purchase have two options. “They can avoid a high mortgage rate by dro

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Last updated : 07 June 2023 clock 04:44 PM

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Cash buyers purchasing one-third of homes: report ...Middle East

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