For the first time since December 2008, more existing single family homes were purcahsed with conventional loans than with cash. It happened in March 2013 and it ended 51 consecutive months of cash purchases ruling over financed purchases here in the metro Phoenix housing market.
The numbers below pretty much tells the story of where we were and where the market is moving forward…
Mar-04 | Mar-08 | Mar-11 | Mar-12 | Mar-13 | April 1-29 | |
Cash Purchase | 947 | 497 | 3134 | 2671 | 2130 | 2022 |
Financed Purchases | 4424 | 1790 | 1904 | 2037 | 2196 | 2059 |