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The housing market is heating up in Massachusetts. Many real estate watchers say homes are being snapped up days or even hours after hitting the market, often above asking price and without conditions such as a home inspection.
Some buyers say they have been boxed out of buying homes as bidding wars take over in some cities, making it hard for them to compete with cash-only offers.
New data from real-estate tracking firm The Warren Group prepared specifically for WBUR (see chart below) shows that a significant percentage of single family homes and condos are being purchased in cash. In June, 11 percent of single-family homes sales were completed without mortgages, down from nearly 25 percent in April. On the condo market, more than 28 percent of sales in June were all cash, down from a high of almost 50 percent in December 2012.