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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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