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All-cash home sales rocket in second quarter

Modified: Sunday, Aug 24th, 2014

All-cash home sales in Lincoln County surged to nearly 50 percent in the second quarter of 2014. (News-Times photo illustration)

LINCOLN COUNTY Cash was king for nearly 50 percent of homebuyers in the central Oregon coast region during the spring period.

An industry report released this week showed 49.6 percent of the deals that closed in the second quarter of 2014 were all-cash transactions. That was up from 41.6 percent in the second quarter of 2013.

RealtyTrac, an Irvine, Calif.-based provider of housing data and analytics, compiled the information.

The percentage of all-cash deals in the region seemed high to industry veterans in the central coast region with at least one firm Stewart Title Company in Newport putting the figure at slightly more than 27 percent.

The difference appears to boil down to methodology. RealtyTrac said its all-cash sales data reflects more than properties on local and regional multiple listing services, including pocket listings.

For the complete article see the 08-22-2014 issue.

Click here to purchase an electronic version of the 08-22-2014 paper.

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