In many parts of the country, housing prices gave returned to pre-recession levels. That’s good news for sellers, bad news for buyers. But buried within the latest housing data is some good news for everyone — everyone on Main Street, anyway.
All-cash buyers seem to be finally retreating. The percent of homes purchased by all-cash buyers in May was close to its long-term average going back to January 2000 of 24.8 percent, and well below its recent peak of 42.2 percent in February 2011, according to data released Thursday by RealtyTrac. It’s one sign that the housing market is on the road back to a normal, “how do we find a place to live?” market, and away from the “how do I make a quick buck?” market.
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via AOL Real Estate