Cash Sales Declining, but Remain Elevated For REOs

By Jann Swanson

Posted To: MND NewsWire

The percentage of all-cash home sale transactions declined for the 25 th consecutive month in January, falling to a 38.9 percent share. CoreLogic said that this was a 2.6 percent decrease from January 2014 when cash sales accounted for 41.4 percent of sales. Cash sales peaked in January 2011 at a 46.5 percent share, close to double the share prior to the housing crisis. CoreLogic said that if cash sales continue to fall at the same rate it did in January it will reach the “normal” rate of 25 percent in mid-2018. The January share of cash transactions did rise from December, up 3.2 percentage points. CoreLogic called a January increase typical , exemplifying the seasonality of the market and the reason why cash sales comparisons should be made on a year-over-year basis. Cash continues to dominate…(read more)

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