Cash offers became much more prevalent during the pandemic, and that trend has continued in 2023. Note from the chart below that the percentage of home sales without financing contingencies is trending much higher this year than in pre-pandemic 2019.
A high percentage of cash offers is a clear sign of a competitive market. It's also an indicator of pent-up demand, where the number of buyers far exceeds the number of homes for sale in Dane County. Stay tuned for more insight into this topic. We'll have much more to share real soon.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred