Increasingly, if you want to buy a home in America, you need to bring cash to the table.
“Cash buyers — many, but not all of whom are investors — are in a position of competitive advantage in today’s higher interest rate environment and will continue to account for a higher-than-usual share of market at least until mortgage rates dip back down a bit,” Sharga said in a release announcing the findings. “With affordability a problem for many buyers, especially first-time buyers, it wouldn’t be a surprise to see the percentage of cash purchases actually increase in 2023.
Median home prices rose in all but two of the 157 metro areas tracked by ATTOM as part of the report. The five biggest year-over-year median price increases were all in Florida. Naples had the biggest single-year price increase at 26.9%.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Super Bowl merchandise sales in Phoenix up 14% over last year in LA - Phoenix Business JournalSuper Bowl LVII was a success on multiple fronts it appears. Only one Super Bowl Experience in history outsold the 2023 Super Bowl week in Phoenix — Super Bowl 50 in the Bay Area — but that store was open one day longer than the Phoenix one.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Expanded Clarendale Arcadia senior living in Phoenix targeted for spring opening - Phoenix Business JournalA key trend for a modern senior living community is accessibility to neighborhood amenities, especially walkable ones for the seniors who live there, the developer of the project said.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Engel & Volkers lists award-winning Paradise Valley mansion - Phoenix Business JournalAn award-winning mansion designed by C.P. Drewett and built by BedBrock Developers is listed for $11.95 million. Take a sneak peek into the home in a photo gallery showing the amenities inside and outside the residence.
Source: phxbizjournal - 🏆 254. / 63 Read more »
A memo to Governor Katie Hobbs on supporting Arizona entrepreneurs - Phoenix Business JournalIn this guest column, a University of Arizona professor who also runs a biotech startup offers his thoughts to newly elected Arizona Governor Katie Hobbs on ways she could support and encourage the state's entrepreneurial ecosystem.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Arizona nonprofits ready to work with lawmakers on sound public - Phoenix Business JournalIn this guest column, two Valley executives examine the public policy goals that Arizona's nonprofit and philanthropy sector organizations will be focused on during the 2023 legislative session.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Occupational licensing in the crosshairs amid the tight labor market - Phoenix Business JournalMany states are taking aim at occupational licensing in the tight labor market. Not everybody is happy about it. Here's what businesses need to know.
Source: phxbizjournal - 🏆 254. / 63 Read more »