WeBuyHousesLosAngelesCA.com and Cash Home Buyers throughout the US bought "23% more homes for cash in 2021 compared to 2020," according to reports.
LOS ANGELES, May 9, 2022 /PRNewswire-PRWeb/ -- We Buy Houses Los Angeles, CA officially had a good year, according to reports on 2021 home investment and cash home buyer activity nationwide. According to a National Association of Realtors® website, Local Cash Home Buyers and Nationwide iBuyers "cash sales accounted for 23% of existing-home sales" by July 2021 and trended upward from there.
Real estate in Los Angeles and across the country saw significant price increases in home values in LA in 2021, as scarcity in home inventories in metropolitan and suburban areas in Southern California drove record demand. Still, according to Bloomberg, more home sellers chose the speed and convenience of an experienced and financially pre-qualified all cash home buyer to sell a home than in the previous year.
Safety concerns of listing a home in Los Angeles during the pandemic through traditional methods such as listing with a real estate agent, and the associated selling strategies like open houses and the foot traffic of possibly hundreds of people, plus the cost of making expensive repairs with the supply chain driving record prices in home building materials, likely had an impact.
Sophisticated cash home buyers have streamlined the home selling process with digital technology, using websites that provide simple step by step instructions for a fast all cash home offer, and have the experience and financial resources to buy houses remotely or with only one walk through of a property, and close in as fast as 7 days. Based on the increases in sales reported, these strategies are widely appealing to home sellers, even in a sellers market.
Home selling in a sellers market still takes significant time, according to Realtor.com, as the average home sale time for a traditional real estate agent in 2021 was 54 days. For a home seller looking to sell a house fast, the data suggests that well funded cash buyer companies were a choice that many home sellers made.
As the federal reserve recently increased interest rates .25% on March 16th and .50% again on May 5th, with "six more increases this year" planned in 2022, according to USNews.com, the market effects of interest rising rates may have on home owners with adjustable mortgages and prospective home buyers is still unseen, but according to Forbes.com, "an increase in interest rates historically sees a decrease in home values."
Regardless of unpredictable residential real estate market conditions, the convenience of connecting with verified all-cash home offer companies and local real estate investors through websites like We Buy Houses may prove yet again to be an appealing home selling option this year for millions of home sellers in Los Angeles, and around the country.
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We Buy Houses Los Angeles CA, We Buy Houses Los Angeles, CA, (213) 290-4980, [email protected]
SOURCE We Buy Houses Los Angeles, CA
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