Huge spike in cash buyers in San Diego in 2021 and it was not for “family homes”
SAN DIEGO (KUSI) – On Good Morning San Diego, KUSI’s Paul Rudy talked with Jim Bottrell, a San Diego Real Estate broker, where he reported a huge spike in cash buyers for homes in San Diego.
He saw an increase in the number of cash buyers this year, typically around 15% but this year in the second half of the year we saw that almost double up to 27% of all purchases were cash transactions.
Bottrell goes on to tell us the three different types of cash buyers that are buying homes in San Diego:
- Institutional Investors
- Renter homes
- Buyers paying in cash