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Cash Sales Continue Year-over-Year Retreat
Tuesday, August 18, 2015
The level of cash sales remains high in
several states, mostly those also still experiencing a high level of
foreclosures. CoreLogic said on Tuesday however
that on a national basis the level of those sales has now fallen to the lowest
percentage since July 2008.
Cash sales made up 31.9 percent of
total home sales in May 2015, down from 35.1 percent in May 2014 and continuing
a 29 month streak of year-over-year decreases dating back to January 2013. Month
over month, the cash sales share fell by 1.7 percentage points. According to CoreLogic seasonality in the
housing market means that comparisons should be made on a year-over-year basis.
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