RealtyTrac Reports Cash Homebuyers in First Quarter 2016 Bought at an Average Discount of 23 Percent Nationwide, but Paid a Premium in 9 Percent of Local Markets

Daren Blomquist

IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, released its Q1 2016 U.S. Cash & Institutional Investor Housing Market Report, which shows that all-cash buyers of single family homes and condos nationwide paid 23 percent less per square foot than all homebuyers, but that cash buyers in 9 percent of local housing markets paid a premium price per square foot.

Nationwide all-cash buyers purchased single family homes and condos for a median $91 a square foot in the first quarter of 2016, a discount of 23 percent below the median $118 per square foot for all home purchases.

“While large institutional investors and other cash buyers continue to shrink as a share of U.S. home sales, these buyers still typically beat out traditional buyers using financing — in some cases even when they submit a lower offer for a home,” said Daren Blomquist, senior vice president at RealtyTrac.

“Additionally cash buyers are often willing to take on properties in poor condition that may not readily qualify for standard financing, another reason why cash purchases normally sell at a lower price per square foot.

For a complete copy of the company’s news release, please contact:

Jennifer von Pohlmann      

949.502.8300, ext. 139                                                          

jennifer.vonpohlmann@realtytrac.com