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One-Third of Home Sales Still All Cash
Thursday, June 11, 2015
Despite over two years of declines cash
sales continue to constitute more than one-third of total home sales. CoreLogic reported today that the share of
those sales diminished on a year-over-year basis for the 27th
consecutive month in March, accounting for 34.6 percent of total home sales
compared to 39 percent in March 2014.
Cash sales were down 2.8 percentage points from February 2015.
In the years before the housing crisis
cash purchases accounted for about a quarter of home sales but those purchases
peaked in January 2011 at 46.5 percent.
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