All-cash sales of existing homes in the U.S. comprised 25% of transactions in April as competition in the housing market continued. This marks an increase from 15% of similar sales a year ago and 20% in 2019, the survey shows.
The share of all-cash sales among vacation homes saw the biggest increase, jumping to 61% in April compared to 50% over recent years.
( Source National Association of REALTORS® )
As you know the Pinellas Gulf Coast is a Vacation Home Mecca. Let’s see how our beach communities stack up against the rest of the country.
30 year fixed rate
Month of April Each year
It’s also worth noting the total number of sales for the month of April of each year.
2019 = 256 2020 = 150 2021 = 378
Interesting to see how the market is playing catch up from April of 2020.
Mortgage rates are still hovering around 3%. Consumer income and spending are picking up, which is leading to an acceleration in economic growth. The combination of low and stable rates, coupled with an improving economy, is good for homebuyers. It’s also good for homeowners who may have missed prior opportunities to refinance and increase their monthly cash flow.
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