Steven Hansen: Relevance of Mortage Application Data is Diminished

February 9th, 2011
in Background

dollar tower Econintersect:  Analyst Steven Hansen points out that there has been a dramatic increase in all cash transactions for home purchases in the U.S.  This is coming from increased activity by domestic investors as well as foreign buyers.  In some markets all cash purchases are 4-5 times what they were in 2006.

Follow up:

A number of markets have 20-30% of purchases for cash.  In Miami more than 50% of sales are for cash, while Las Vegas comes in over 45% and Tampa is just under 45%.

Source:  GEI Analysis 

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