Want to buy a home? Better bring cash

A 'For Sale' sign stands in front of a house on May 31, 2011 in Chicago, Ill.

If you're buying real estate these days, you should probably come with bags of cash. More and more people seem to be doing that at least.

Last quarter, a third of the existing homes sold in the U.S. were purchased entirely in cash.

Who's buying them this way? Retirees, foreign investors and Americans who can, i.e. those who don't want to bother with trying to get a mortgage.

Something that's still tough.

About the author

David Gura is a reporter for Marketplace, based in the Washington, D.C. bureau.

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