Cash Buyers And Investors Drive Housing Market

Market research firm RealtyTrac is reporting that institutional investors accounted for 14% of all home sales in September, according to a Business Insider story ("Deep-Pocketed Institutions And All-Cash Buyers Are Driving The Housing Market," by Mamta Badkar). "In metros with a population of 1 million or more, Atlanta had the highest percentage of institutional investor purchases at 29%," says Business Insider. "Las Vegas, St. Louis, Jacksonville, and Charlotte rounded off the top five. Meanwhile, all-cash purchases represented 49% of all residential sales, up from 40% in August, and 30% a year ago."

"Miami saw the highest percentage of all-cash sales at 69%," the website reports. "Tampa, Jacksonville and Orlando also saw a surge in all-cash sales."