All-cash purchases, institutional investors saw record lows in May single-family market

The percentage of single-family homes and condos purchased with all cash or by institutional investors hit record lows in May. Nearly 25 percent of all home sales in May were all cash purchases, according to RealtyTrac’s U.S. Home & Foreclosure Sales Report. This figure represents the lowest level of all-cash closings since November 2009. A year ago, more than 30 percent of buyers closed with all cash …