{"id":7950,"date":"2018-01-29T00:00:00","date_gmt":"2018-01-29T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/cash-sales-soar-to-post-recession-high\/"},"modified":"2018-01-29T00:00:00","modified_gmt":"2018-01-29T00:00:00","slug":"cash-sales-soar-to-post-recession-high","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/cash-sales-soar-to-post-recession-high\/","title":{"rendered":"Cash Sales Soar to Post-Recession High"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"49.211927981996\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"44.826706676669\"><!--paging_filter--><\/p>\n<p>Cash sales accounted for 8 percent of new-home sales in the fourth quarter of 2017, matching a high that has not been seen since 2014, the National Association of Home Builders reports on its Eye on <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">Housing<\/a> blog. Cash sales make up an even larger share of existing-home sales\u2014about 20 percent in December, according to the National Association of REALTORS\u00ae.<\/p>\n<p>Cash hardly makes up the bulk of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/construction-loans-for-commercial-and-residential-builders\/\">financing<\/a> options for buyers, however. The share of new homes financed with conventional mortgages has dropped slightly from 73.2 percent to 72.7 percent. In the fourth quarter of 2017, 12.9 percent of new-home buyers used FHA <a href=\"https:\/\/amazingproperty.com.ng\/blog\/fast-flexible-real-estate-loans-usa\/\">loans<\/a>. The share of sales financed with FHA-backed mortgages has dropped 4 percentage points since reaching a peak in the second quarter of 2015.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2018_jan\/NAHB_chart.png\" style=\"width: 620px; height: 342px;\"\/><\/p>\n<p>\u201cDifferent sources of financing serve distinct market segments, which is revealed in part by the median new-home price associated with each,\u201d the NAHB reports. \u201cIn the second quarter, the national median sales price of a new home was $321,100. Split by types of financing, the median prices of new homes financed with conventional loans, FHA loans, VA loans, and cash were $347,800, $233,900, $294,400, and $349,300, respectively.\u201d<\/p>\n<p><em>Source: \u201cCash Sales Tie Post-Recession High,\u201d National Association of Home Builders\u2019 Eye on Housing blog (Jan. 26, 2018)<\/em><\/p>\n<\/div>\n<\/div>\n<p><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/TLTCAaUuSUM\/cash-sales-soar-post-recession-high\"> Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cash sales accounted for 8 percent of new-home sales in the fourth quarter of 2017, matching &hellip; <a title=\"Cash Sales Soar to Post-Recession High\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/cash-sales-soar-to-post-recession-high\/\"><span class=\"screen-reader-text\">Cash Sales Soar to Post-Recession High<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7951,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[1403,12908,543,215,248,127,604,408,312,258,204,41,818,479],"class_list":["post-7950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-buy","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-homes","tag-loans","tag-mortgage","tag-mortgages","tag-new-home","tag-new-homes","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/NAHB_chart.png?fit=611%2C344&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1893,"url":"https:\/\/amazingproperty.com.ng\/blog\/what-has-analysts-worried-with-fha-loans\/","url_meta":{"origin":7950,"position":0},"title":"What Has Analysts Worried With FHA Loans","author":"Amazing Property","date":"March 13, 2017","format":false,"excerpt":"The number of riskier mortgages is growing, which is increasing delinquencies\u2014albeit slightly\u2014and raising concerns about defaults, USA Today reports. Federal Housing Administration loans, which typically require down payments of 3 percent to 5 percent, are at the center of most of the concern. Read more: Where FHA Loans Are the\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":625,"url":"https:\/\/amazingproperty.com.ng\/blog\/buy-a-home-with-no-monthly-payments\/","url_meta":{"origin":7950,"position":1},"title":"Buy a Home With No Monthly Payments?","author":"Amazing Property","date":"February 3, 2017","format":false,"excerpt":"Reverse mortgages for purchases have been around a while but they stand to see more use as younger baby boomers hit retirement age. The mortgages are backed by FHA and they let households buy a home without having to make monthly mortgage payments. Instead, buyers put up a fairly sizable\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6275,"url":"https:\/\/amazingproperty.com.ng\/blog\/home-flippers-face-hurdles-in-tight-markets\/","url_meta":{"origin":7950,"position":2},"title":"Home Flippers Face Hurdles in Tight Markets","author":"Amazing Property","date":"September 18, 2017","format":false,"excerpt":"In the second quarter of this year, 5.6 percent of all home sales were flips, according to ATTOM Data Solutions\u2019 Q2 2017 U.S. Home Flipping Report. The report defines a flip as a property that is sold for the second time within a 12-month period. As housing inventory remains low\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1_rss.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/1_rss.png?fit=599%2C659&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/1_rss.png?fit=599%2C659&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/09\/1_rss.png?fit=599%2C659&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3869,"url":"https:\/\/amazingproperty.com.ng\/blog\/urgency-increases-for-first-time-buyers\/","url_meta":{"origin":7950,"position":3},"title":"Urgency Increases for First-Time Buyers","author":"Amazing Property","date":"April 26, 2017","format":false,"excerpt":"New buyers are gradually increasing their stake in the housing market. First-timers comprised 32 percent of existing-home sales in March, up from 30 percent a year ago and 29 percent in 2014. The looming threat of interest rate increases may be prompting more buyers to enter the market this year.\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1209,"url":"https:\/\/amazingproperty.com.ng\/blog\/where-fha-loans-are-the-most-popular\/","url_meta":{"origin":7950,"position":4},"title":"Where FHA Loans Are the Most Popular","author":"Amazing Property","date":"February 23, 2017","format":false,"excerpt":"[ad_1] In 2016, 15.5 percent of home purchases were completed using Federal Housing Administration loans, according to ATTOM Data Solutions. For many borrowers, the FHA requires a down payment of just 3.5 percent of the purchase price of a home. Read more: The Big Down Payment Myth The following are\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7293,"url":"https:\/\/amazingproperty.com.ng\/blog\/5-housing-trends-to-watch-for-2018\/","url_meta":{"origin":7950,"position":5},"title":"5 Housing Trends to Watch for 2018","author":"Amazing Property","date":"November 29, 2017","format":false,"excerpt":"Home shoppers may have it easier in 2018. Inventory constraints of for-sale homes and rising home prices may finally start to ease next year, according to realtor.com\u00ae\u2019s 2018 National Housing Forecast. \u201cNext year will set the stage for a significant inflection point in the housing shortage,\u201d says Javier Vivas, director\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Realtor.com Chart.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/realtor.com%20chart.png?fit=607%2C211&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/realtor.com%20chart.png?fit=607%2C211&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/realtor.com%20chart.png?fit=607%2C211&ssl=1&resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=7950"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/7951"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=7950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=7950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=7950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}