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by Jace Stolfo
on Wednesday, February 9th, 2011 at 11:12am.
According to a recent Wall Street Journal report, cash transactions were up in many major real estate markets across the U.S. in 2010.
The same is true for the Boise real estate market where in 2010 18% of the home sales were cash buyers compared to 7% in 2007.
Largely spurring the cash sales are the many Boise bank-owned and short sale properties.
According to the National Association of Realtors, 28% of the national sales were cash transactions in 2010. Up from 14% in October 2008 when they began keeping track.
In several of the largest real estate markets in the U.S., cash transaction approached 50% in 2010: