Cash Sales Remain 25 percent above "Normal"

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Posted To: MND NewsWire

The importance of cash in home sale transactions declined in April for the 28 th consecutive month . CoreLogic said on Thursday that all-cash home purchases comprised 33.7 percent of all sales during the period, down from 37.4 percent a year earlier. Month-over-month the share fell by 0.9 percent. Cash purchases typically account for about one quarter of home sales but, as overall sales declined and investors became a major force, cash accounted for 46.5 percent of home sales at the peak in January 2011. CoreLogic said if the cash sales share continues to fall at the rate it did in the current report period the share should return back to the 25 percent pre-crash levels by mid-2017. Cash sales continue to dominate in the distressed market; the share of all cash REO sales increased year-over...(read more)

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Source: http://www.mortgagenewsdaily.com/07162015_corelogic_cash_sales.asp

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