NAR says 31% of purchases in December were all cash

The National Association of Realtors has said that approximately 31% of existing home purchases were conducted in all cash.  Although it is wonderful to have all of these investors come back to the market with such confidence, the sales are likely to have a downward pressure on sale prices.  Typically cash buyers want a discount and negotiate as such, but it is certain that the mortgage servicers handling foreclosures and short sales are breathing a sigh of relief to have this 5% bump up in the number of sales.  It can help clear some of their backlog of inventory.