DQNews posted a summary and numbers on Feb 6, 2013 discussing that the number of homes purchased without financing is at a record high.
“Cash purchases accounted for a record 32.4 percent of California’s overall home sales last year, up from 30.4 percent in 2011 and more than double the annual average of 15.6 percent since 1991, when DataQuick’s cash statistics begin.”
Of particular interest is that investors and vacation home buyers bought 55% of all homes bought without financing. About 28% of of non-financed purchases were done by buyers purchasing two or more properties. Part of the increase in non-financed purchases is probably due to the tighter restrictions on qualifying for loans but the perceived investment return and safety of competing investments is also a factor.
In Santa Clara County the number of non-financed home purchases increased from 4,625 in 2011 to 5,415 in 2012. In San Mateo County non-financed home purchases increased from 1,694 to 1,948 (24.2% of all San Mateo Purchases were all cash).
http://www.dqnews.com/Articles/2013/News/California/CACASH130206.aspx