The results of the latest Campbell/Inside Mortgage Finance Housing Pulse Tracking Survey shows that cash purchasers, many of whom are investors, are putting downward pressure on housing prices across the country.

The survey found that in December 2011, the overall proportion of cash purchasers in the housing market climbed to a new record of 33.2 percent, up from the 29.6 percent recorded in December 2010. An even higher proportion - 74 percent - of investors used all cash to buy homes in December.

"Investors are very aggressive and expect to see 15 to 20 percent off list, they will close in 30 days or less and most are cash buyers," said one California-based real estate agent. "First-time home buyers are in a market that sometimes sell for over list price, which is difficult at first for them to understand."

MarketWatch recently released the top and bottom five long-term housing markets in the United States today. The bottom five markets include Wilmington, Delaware; Atlanta-Sandy Springs-Marietta, Georgia; Tucson, Arizona; Jacksonville, Florida; and Sacramento-Arden-Arcade-Roseville, California.

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