Morning Minute: More Baby Boomers buying next home with cash

The number of non-investment home buyers purchasing with cash rose to record highs — 29 percent — in the first quarter of this year and Baby Boomers led the pack, according to the National Association of REALTORS®. Older home owners have accumulated years of equity in their homes and when it comes time to buy again, many are choosing to pay with cash rather than take out another mortgage, said NAR Chief Economist Lawrence Yun. Read more from NAR.

In other headlines:

Pent-Up Buyer & Seller Demand about to be Released? – KCM Blog

Chicago home prices rising slightly faster than nation – Chicago Sun-Times

Uptick in Lower-End Housing Could Get More Millennials Off Sidelines – NAR’s Daily Real Estate News

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.