All-Cash Sales Now Down to 31.3 Percent

Posted To: MND NewsWire

CoreLogic reported yet another decrease in the share of all-cash home sales in June. Those sales accounted for 31.3 percent of the total during the month compared to 33.9 percent in June 2014 and was down 0.7 percentage point from May. The company says that the share of cash sales has fallen each month since January 2013. Cash purchases were most common for real estate owned (REO) properties at 57 percent of the total and were the only category in which cash sales increased year-over-year. Resales (sales of existing houses) had a 30.8 percent cash share following by short sales at 28.7 percent. Only 15.6 percent of newly constructed homes were sold for cash. The cash sales share peaked in January 2011 when those transactions made up 46.5 percent of total home sales nationally. Prior to the...(read more)

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