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A comment on Mortgage rates just hit 5%. Buying a home has become a lot more expensive. Parent comment

Re:Mortgage rates just hit 5%. Buying a home has become a lo... by ivanche on Friday April 08, 2022 @10:55AM (#30957738)
I don’t have hard data on this; however, I believe that cash buyers are minority, maybe even significant minority. It would be awesome if someone could share concrete numbers on this.
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Re:Mortgage rates just hit 5%. Buying a home has become a lo... by beembeem on Friday April 08, 2022 @11:54AM (#30958804)
A local realtor in my hot market on the west coast indicated to me that it was as much as a third of sales they saw in the last year FWIW.
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Re:Mortgage rates just hit 5%. Buying a home has become a lo... by dariusj18 on Friday April 08, 2022 @12:19PM (#30959078)
That's partially because there is a whole new industry of preapproved loans that you can treat as cash when negotiating to buy a home.
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