Wednesday , 6 January 2021

More than 1 in 3 Home Sales All-Cash; Declining Slowly

By Jann Swanson

Posted To: MND NewsWire

The share of all cash sales continue to fall in December along with the volume of distressed property sales. CoreLogic said on Monday that 35.5 percent of total home sales in December were all cash, down from 38.5 percent from December 2013 and 0.5 percent lower than just a month before. The share of cash sales has fallen year-over-year since January 2013, making December the 24 th straight month of declines. Cash sales peaked at 46.5 percent of all sales in January 2011 and are now about half-way back to the average that existed prior to the housing crisis – approximately 25 percent. CoreLogic projects that should cash sales continue at the December rate of decline these sales should be back to that quarter-share level by mid-2017. Sales of lender owned real estate (REO) continue to be predominantly…(read more)

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