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Cash Sales Remain 25 percent above "Normal"

Friday, July 17, 2015

The importance of cash in home sale transactions declined in April for the 28th consecutive month.  CoreLogic said on Thursday that all-cash home purchases comprised 33.7 percent of all sales during the period, down from 37.4 percent a year earlier.  Month-over-month the share fell by 0.9 percentage point. 

Cash purchases typically account for about one quarter of home sales but, as overall sales declined and investors became a major force, cash accounted for 46.5 percent of home sales at the peak in January 2011.  CoreLogic said if the cash sales share continues to fall at the rate it did in the current report period the share should return back to the 25 percent pre-crash levels by mid-2017.


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"We appreciated that Mark took time to explain the different options to us as first time homebuyers. He gave us tips about making an additional payment each year and spoke with us about tax credits. He finds out what you already know by asking you questions and then helps you without making you feel unknowledgeable. We were very satisfied with the service. We plan to refer Mark to family and friends that are looking to purchase or refinance."
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