Source: Money-CNN
Silicon Valley Buyers Drive Record Sales of High-End Homes in Santa Cruz
Buying a home? You still have to compete against the big money bringing all-cash. But it’s getting a little easier.

All-cash deals made up 38% of all home sales in the second quarter, according to RealtyTrac, down from 42% in the prior quarter.

One reason is that big institutional buyers, those buying at least 10 homes a year, are finding fewer deals.

“It was an option that my insurance agent tried to talk me into. But I’m from Minnesota, and I haven’t had to deal with anything like this before.” They accounted for 4.7% of all homes sold, down from a peak of 6% in 2013.

As the housing market recovered, these investors were buying up homes in deeply troubled markets, like Phoenix and Las Vegas. Those bulk buys helped to reverse the slide in home prices.

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