{"id":12523,"date":"2021-07-21T19:10:35","date_gmt":"2021-07-22T02:10:35","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=12523"},"modified":"2021-07-21T19:10:36","modified_gmt":"2021-07-22T02:10:36","slug":"30-of-homes-in-tucson-phoenix-are-bought-in-cash-highest-since-2014","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/30-of-homes-in-tucson-phoenix-are-bought-in-cash-highest-since-2014","title":{"rendered":"30% of Homes in Tucson, Phoenix are Bought in Cash, Highest Since 2014"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Nearly one-third (30%) of U.S. home purchases this year were paid for with all cash.<\/p>\n\n\n\n

That\u2019s up from 25.3% during all of 2020 and represents the largest share since 2014, when 30.6% of homes were purchased with all cash, according to a Redfin analysis of county records published from January 2001 through April 2021\u2014the most recent month for which national data was available. <\/p>\n\n\n\n

Tucson has seen 35.1% of homes paid for in full with cash, while 32.3% of home sales in Phoenix have been made in all cash.<\/p>\n\n\n\n

Cash purchases are on the rise as Americans reap the benefits of a strong stock market. The S&P 500 Index has gained 36% in the past 12 months alone, as of July 14, 2021. <\/p>\n\n\n\n

Additionally, remote work has allowed homeowners in expensive cities including\u00a0San Francisco\u00a0and\u00a0New York\u00a0to sell their homes and move to less expensive areas, where they can often afford to buy properties in cash.<\/p>\n\n\n\n

Investors, who often pay in cash, are wading back into the housing market after pressing pause at the onset of the pandemic. U.S. home purchases by investors\u00a0rose<\/a>\u00a02.7% year over year in the first quarter, marking the first period of growth since the coronavirus pandemic began.<\/p>\n\n\n\n

Read the full report here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Cash purchases are on the rise due to a strong stock market, remote work and other factors.\n","protected":false},"author":13,"featured_media":12530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[6],"tags":[1663,4791,4275],"class_list":["post-12523","post","type-post","status-publish","format-standard","has-post-thumbnail","category-in-house-news","tag-real-estate","tag-real-estate-news","tag-real-estate-trends","cs-entry","cs-video-wrap"],"yoast_head":"\n30% of Homes in Tucson, Phoenix are Bought in Cash, Highest Since 2014<\/title>\n<meta name=\"description\" content=\"Cash purchases are on the rise due to a strong stock market, remote work and other factors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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