Even during the usually slow holiday season, the housing market is hotter than ever this year.
Low supply and incredibly high, Covid-induced demand have made buyers beyond competitive and sellers particularly picky. As a result, all-cash deals, which sellers favor, are rising in certain regions and at certain price points.
All-cash sales now make up about 36% of the market, according to realtor.com. That is only a very slight rise overall from last year. Yet cash sales are climbing more dramatically in the Northeast and West, up 3 and 2 percentage points, respectively. It is happening despite the fact that mortgage rates have set record lows 14 times so far this year.
“This is likely a…