Approximately 32 percent of respondents reported cash sales in May (same as in April), according to the May 2014 REALTORS® Confidence Index . A substantial number of move-up buyers, investors, buyers of second homes, and foreign clients are likely to pay cash. REALTORS® reported that high income earners, especially those working in the technology sector, are paying all-cash. Baby boomers who have accumulated equity gains and are trading down were also reported to be paying cash.
Buyers paying all-cash are reported to be winning over first-time buyers who generally obtain mortgage financing. About 12 percent of reported sales to first-time buyers were cash sales compared to about 70 percent of buyers of property for investment purposes and international buyers.
 The RCI Survey asks about the most recent sale for the month.
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