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Cash Sales Share Rose Slightly and Seasonally in August

Thursday, November 19, 2015

The share of cash sales inched up slightly in August, reaching 31.7 percent, a 0.8 percent month-over-month change.  Despite the marginal change, cash transactions were 3.2 percentage points lower than in August 2014.  CoreLogic, in its monthly cash sales report, said cash sales share typically increases month over month in August, but the seasonality in the market means comparisons should be made primarily on a year-over-year basis.

The cash sales share peaked in January 2011 when they accounted for 46.5 percent of total home sales nationally. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent. If the cash sales share continues to fall at the same rate it did in August 2015, the share should hit 25 percent by mid-2017.

 

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