Decline in Cash Sales May be Leveling Off

Posted To: MND NewsWire

The share of cash sales appears to be holding fairly steady , even as investors pull back from the residential market (NAR put the investor share of sales at 12 percent in November) and sales of owned real estate (REO) and short sales decrease to low single-digit levels. CoreLogic reports that the share of home sale transactions that were all cash in September was 31.7 percent . This is only a 1.3 percentage point decrease from September 2015 and, at that rate of decline, CoreLogic now estimates the cash share will return to the pre-crash average rate of 25 percent by mid-2019. Cash sales peaked in January 2011 at 46.6 percent. Only 4.7 percent of home sales were from REO inventories in September, but 59.4 percent of those sales were all cash. Sales of existing homes (resales) had a 31.7 percent…(read more)

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Decline in Cash Sales May be Leveling Off
Decline in Cash Sales May be Leveling Off

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