Do you think all those “cash buyers” were investors? Friends of mine still in the business in Houston have been telling me over the past few years that cash buyers are the norm. If they’re not investors, where are they getting the money?
My neighborhood is finally almost built out. The builder was rocking and rolling for a year but the last ten homes or so have taken them a while to sell.
They are probably downsizing or making a lateral move, using the funds from a house that is already paid off.
As I posted above, I did exactly that and could have paid cash. But, I chose to finance at historically low rates. So far, I've gotten a much better return on the money from the sale of the last house.