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2015 Cash Sale Share Lowest in 8 Years
Thursday, March 24, 2016
The past year closed out with the lowest level of all-cash sales since the first days of the housing crisis. CoreLogic said on Thursday that 33.4 percent of all homes purchased in December were for cash and those sales made up 33.9 percent of all sales over the course of the entire year. That was the lowest full year share since 2008.
December's cash share was down 2.8 percentage points from the share in November, a change CoreLogic said was larger than usual for a December. This probably indicated, the company said, that the elevated cash share in November, 36.4 percent, which was attributed to the new TRID disclosure rules, was temporary. Before the November blip, the percentage of cash sales in 2015 had declined an average of 2.7 points a month.
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