Ohio Market Watch: All-cash home purchases pick up after two-year decline
On September 7, 2017
By Greg Stitz, Ohio REALTORS Director of Research
In August 2014, 53 percent of participants in Ohio REALTORS housing market confidence survey observed an increase in the number of their buyers purchasing a home without a mortgage compared to the year prior. Findings from surveys in August 2015 and 2016 show the percentage of those purchasing without a mortgage falling to 35 percent and 37 percent, respectively. The percentage rises in August 2017 with 48 percent of respondents indicating an increase in all-cash home purchases. Also this year, 47 percent indicated there was no change in the number of all-case purchases and only 5 percent noticed a decrease compared to last August.
Survey results are based on responses to a monthly survey, designed to capture the effects of the existing economic conditions and trends on the real estate industry, sent to a pool of 1,500 Ohio REALTORS participants. Click here to participate in future Ohio REALTORS Housing Confidence Surveys.
Tags: Ohio Market Watch, research