The San Francisco Chronicle reports:
A record 33 percent of existing-home sales were made to cash buyers in February, when an annualized 4.88 million properties changed hands, the National Association of Realtors reported March 21. That compares with 15 percent of the 4.82 million annualized sales when the Chicago-based trade group started monthly tracking of such purchases in October 2008.
There's more:
The national sales data don't count homes bought in foreclosure auctions on courthouse steps, which are almost all cash-only transactions. The "lion's share" of all-cash purchases are by investors
If you want to know what's going in real estate, you'll want to read this one.
