Jann Swanson | Mortgage News Daily
All cash sales continued at an elevated level in January, increasing from December but accounting for a substantially lower share of sales than a year earlier. CoreLogic said those sales made up 35.5 percent of residential transaction, up 1.9 percentage points from the previous month, but that cash sales typically tick up in January. The number was 4.2 percentage points lower than in January 2015.
Prior to the housing crisis cash sales typically accounted for about a quarter of all home sales but peaked in January 2011 at 46.6 percent. CoreLogic expects the cash share of sales, if it continues to decline at the present rate, will return to pre-housing crisis levels by the middle of next year.
