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No. 3: Raleigh, N.C.
Average down payment percentage: 20.39%
Share of buyers with a credit score of 720 or higher: 70.48%
Share of buyers who shopped around for a mortgage before looking for a house: 61.5% (I can't believe this isn't above 90% )
Yeah, I know this is about as accurate az Zillow. But WTH - its fun to compare.
not the most competitive market, the most-competitive homebuyers .... ie, high downpayment, high credit, have already arranged funding. If 20% (I think the # I supplied last week) are cash sales, then 61% shopped a mortgage first might be thought of as 81% "pre-qualified".
It also bears noting that the downside of IDX websites (like Zillow is now) is folks "house-hunt" for months/quarters/year(s) before actually getting serious, and they just don't automatically know to get pre-approved early.
I just sold an investment property and looking to do a 1031 exchange. I may just pay the capital gains instead of entering some bidding war with another buyer.
Not surprised since we are a tech city. Kind of shocking Austin isn't in the top 10.
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