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Cash Sales Decline as REO Sales Dwindle

Thursday, February 12, 2015

While all-cash sales continue to decline as a percentage of all home sales, in several states they still account for more than half of all residential sales transactions.  CoreLogic said on Wednesday that 36.1 percent of home sales in November 2014 were all-cash, down from 38.8 percent one year earlier.  November became the 23rd consecutive month in which the share of sales declined on a year-over-year basis. 

Their portion of all sales did tick up by half a percentage point from the all-cash share in October but CoreLogic said this is typical for the fall and winter months.  Because of this seasonality the company said comparisons should be made on an annual basis.

 

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