NJ Cash Buyers Grow to 45% of Housing Market

As interest rates climb steadily, the proportion of cash purchases that are taking place in New Jersey has made it one of the top 10 markets in the country for investors. In addition to rising interest rates, the reluctance of big banks to make mortgages easily available has also become a significant contributing factor, as well.  

Finally, given their propensity to pay for real estate purchases with cash, in whole, and up front, institutional investing has also been a huge contributing factor Cash sales: 45.0% Median list price: $279,900 institutional sales: 3.1%