Housing madness: 76 all-cash offers on one home

Source: Anna Bahney, CNN Business

A realtor listed a fixer-upper in suburban Washington, DC for $275,000 on a Thursday. By Sunday evening, she had 88 offers. Of those 88 offers, 76 were all-cash, said Coleman, who works for RE/MAX Realty Centre.

The inventory of available homes for sale is now at a record low, driving competition and home prices ever higher across many regions of the country. With demand for homes remaining strong, it's hard to imagine when the market might become more affordable and that has left many buyers wondering whether they should act now or just wait it out.

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