By Jann Swanson
Posted To: MND NewsWire
Cash sales dropped on a year-over-year basis for the 22 nd consecutive month in October and CoreLogic is projecting they will return to their pre-crisis levels by 2017. All-cash transactions represented a slightly higher share of transactions in October than in September, 35.5 percent versus 35.0 percent, but the company said the relative share of those sales typically rises during the fall and winter months. They suggest that year-over-year comparisons are more indicative of trends. And that trend is undeniably down. Compared to October 2013 cash sales have retreated by over 3 percentage points. In October 2013 they made up 38.7 percent of home sales. The peak for cash sales came in January 2011 at 46.4 percent. After beginning a steady decline in January 2013 cash sales are on track to return…(read more)
Via:: All-Cash Sales Should Normalize by 2017
