Wednesday , 20 January 2021

Cash Sales Decline for 24th Consecutive Month

By Samantha Guzman

Real estate owned (REO) sales increased the most from 2000 to 2014 and had the largest cash sales share in December 2014 at 58.4 percent. Resales had the second largest amount of cash sales share at 35.4 percent, while short sales at 32.7 percent and newly constructed homes at 15.6 percent had the smallest amount of cash sales share. While the percentage of REO sales that were cash transactions remained high, REO transactions made up only 8.8 percent of all sales in December and, therefore, had a small influence on the overall cash sales share. In January 2011, when the cash sales share was at its peak, REO sales made up 23.9 percent of total sales.

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