There Are 4 Types of Housing Markets Right Now. Which 1 Are You In?
Today’s housing market splits into four distinct types. You’ve got cash buyers, buyers financing a purchase, owners who feel locked into a low rate, and builders with homes to sell. Which type you’re in changes how you should buy or sell. Ryan Serhant, CEO of SERHANT agrees: “There is no longer a housing market . . . There are four Americas.” Here’s what each looks like, and what it means for you. Cash Buyers: 1 in 4 Buyers Are Paying with Cash If you already own a home, you may be able to buy your next place in cash thanks to your equity . In fact, 26% of existing home sales this summer were all-cash, according to the National Association of Realtors (NAR). That's roughly 1 in 4 buyers skipping a home loan entirely. Data from Realtor.com shows most are at the very top and very bottom of the market by price point ( see graph below ): For Buyers: If you’re able to buy in cash too, having no financing contingency means your offer is going to look really appealing to sellers. You...
