Pending Home Sales Just Sank to a Record Low
NAR’s Pending Home Sales Index fell 7.3% in September to 66.0, the lowest reading in its history, and every region pulled back.
29%Of purchases are all-cash
29% of all U.S. home purchases are all-cash offers.
Almost 1 in 3 buyers are skipping the mortgage entirely. Cash is talking louder than ever in today's market.
What it means
- Financed buyers: compete with cash by getting fully pre-approved, staying flexible on the closing date and keeping your offer clean.
- Sellers: cash offers can close faster with fewer contingencies, but compare net proceeds and terms, not just the headline price.
- Agents: cash buyers are often investors or owners moving with equity. The average homeowner holds $290,000 in equity, and much of it ends up as cash at the next closing.
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