Amid all the recent housing reports that clearly show a spring buying surge and a slowdown since that time comes this story from Standard & Poor’s that depicts how rising home prices and rising mortgage rates have tilted the rent vs. buy decision in favor of the former.
It’s not much of an advantage, however, if mortgage rates continue to climb it soon will be.
This MarketWatch story from yesterday about all-cash buyers accounting for about half of all recent home purchases is worth a look as well. Apparently it’s difficult to get a good read on this particular statistic as three different groups provided estimates of between 31 percent and 57 percent, however, it’s clearly much higher than the less than 20 percent share of a decade ago, prior to the housing bubble bursting.
[Hear more: Michael Fink of Leewood Real Estate Group: Both Builders and Buyers Are More Conservative Today]
Source: Iacono Research
