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All-Cash Sales Now Down to 31.3 Percent
Tuesday, September 29, 2015
CoreLogic reported yet another decrease in the share of
all-cash home sales in June. Those sales
accounted for 31.3 percent of the total during the month compared to 33.9
percent in June 2014 and was down 0.7 percentage point from May. The company says that the share of cash sales
has fallen each month since January 2013.
Cash purchases were most common for real estate owned (REO)
properties at 57 percent of the total and were the only category in which cash sales
increased year-over-year. Resales (sales
of existing houses) had a 30.8 percent cash share following by short sales at
28.7 percent. Only 15.6 percent of newly
constructed homes were sold for cash.
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