Retail data firm RealtyTrac reported investors and other cash buyers are purchasing fewer homes. As a result, the flow of cash purchases that disrupted some mortgage markets may be slowing, the firm said.
The Irvine, Calif.-based RealtyTrac is a leading source of real estate data, particularly foreclosure activity.
Nationally, 37.9% of all homes purchased in second quarter of 2014 were purchased for cash, RealtyTrac reported. That figure was down from a three-year high of 42% in 2014's first quarter; however, the number was higher than the 35.7% of homes purchased for cash in the second quarter of 2013, the firm reported.
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