As reported in the latest REALTORS® Confidence Index report (RCI), approximately 27 percent of REALTORS® reported making cash sales in July, slightly dowm from 29 percent in June. The percentage of cash payments fluctuates from month to month, currently being towards the upper end. The high preponderance of all-cash sales appears to be due to stricter mortgage/underwriting standards, and purchases by investors and second home buyers, who frequently pay cash, possibly edging out buyers needing to secure a mortgage.
