I'm really trying to understand this phenomenon. Is it due to the low interest rates at bank, so investors/savers are deciding to put their money into other investments? What happens when mortgage rates and interest rates increase? Will it cause a big decline in housing as housing investments now have to compete with 5% CD's again?
Read it allNAR said all-cash sales accounted for one-third of all sales in February, which is the highest level recorded and up from 32% in January and 27% a year earlier. Investor activity in February remained flat with a year earlier at 19% but fell from 23% in January.