With affordability at an all time high, the number of investors and international buyers taking advantage of bargains has pushed the number of all-cash purchases to a record high, and some experts predict that number will only grow higher.
A record 33 percent of existing-home sales were made to cash buyers in the last month of record, according to the National Association of Realtors. The portion of cash deals could hit 40 percent by the end of this year, predicts Thomas Popik, research director for Campbell Communications in Washington, which conducts monthly surveys of 3,000 real estate brokers.
But it's not just investors moving in: Many of these cash deals are also coming from a growing number of international buyers. About 55 percent of international buyers paid cash for their U.S. homes. according to a report by NAR.
*Old Republic National Title Insurance Co.