Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
This Is How American Families Are Financing Their Homes
January 29, 2015
The NAHB shares its analysis of the most recent Census numbers to find the sources of financing for new single-family home sales.
During the 2002-2003 period, cash sales made up only 4 percent of purchases. In contrast, cash purchases made up 26 percent in December per NAR estimates. Conventional financing has expanded as the housing recovery continues. The market share of new-home sales for conventional financing was 62 percent in 2011, and preliminary estimates for 2014 show it has grown to 72 percent.
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