Today’s existing home sales report shows the highest sales in eight months. The US median sale price hit a nine-year low. Conversely, if you are in Texas, and particularly Austin, transactions are up and the median price hasn’t really changed.
All-cash purchases are at the highest level since NAR started measuring these purchases monthly in October 2008, when they accounted for 15% of the market. The average of all-cash deals was 20% in 2009, rising to 28% last year.