By Jann Swanson | Mortgage News Daily
Although cash sales ticked up slightly in August, a pattern that has been maintained for 14 of the last 15 years, that share of all home sales continued to retreat on a long term basis. CoreLogic said today that cash sales had a 33.8 percent portion of the market in August, a less than one point uptick from July and was down from a 36.4 percent share in August 2013. The percentage of cash sales has been lower on a year-over-year basis every month since January 2013.
Prior to the housing crisis, the cash sales averaged approximately 25 percent of all sales. They peaked in January 2011 when cash transactions made up 46.3 percent of total home sales.
