Who’s Buying Homes in this Market?

The Existing Home Sales was released yesterday which reports on the closings of existing single-unit homes.

Would you be surprised to know that last month, 31% of all sales were first-time homebuyers?

28% of the home buyers paid cash. I have a program that actually allows to essentially make a cash offer so that you can compete with cash buyers.

30% of homebuyers bought the home over the list price. This could be from a bidding war or perhaps they bid over the list price to have offset having the seller pay for closing costs, such as a seller paid interest rate buydown. If you’re considering making an offer on a home, I have a Bid Over List report that shows you approximately how long it will take for the home to appreciate to your bid price.

Check out my latest video where I talk more about this, including trends in the greater Seattle area.

If you’re thinking about buying a home, please contact me! I am happy to help you review your possible financing options and create a plan.

Related: Where are people moving to in Washington State?