by KERRI PANCHUK
Monday, January 23rd, 2012, 7:51 am
Investors are gobbling up residential real estate with cash, pushing national home prices lower, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
The overall proportion of cash buyers in the housing market soared to a record 33.2%, compared to 29.6% a year earlier.
Meanwhile, the investor class relied heavily on cash to buy homes, with 74% of investors using cash to buy homes in December.
Investors represented 22.8% of home purchases in December alone, up slightly from 22.2% a month earlier.
More here.
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