Some States Still Near 50 Percent Cash Sales

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Posted To: MND NewsWire

Cash sales rose incrementally in September while continuing to diminish as a share of all sales on a year-over-year basis. CoreLogic, in it's monthly sales report, said that all cash transactions made up 32.5 percent of sales during the month, up 0.2 percentage points compared to August. According to the report, cash sales share typically increases on a monthly basis in September due to seasonality in the housing market. The cash share was down 3.4 percentage points from September 2014 when it was 35.9 percent. The cash sales share peaked in January 2011 when cash transactions accounted for 46.6 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...(read more)

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Source: http://www.mortgagenewsdaily.com/12212015_corelogic_cash_sales.asp

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