November 21, 2024 1:17 pm
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Cash sales retreat as a share of new home purchases

By David Logan | NAHB

NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the Census Bureau reveals that cash sales accounted for just 4.8% of the total, down from 6.5% in the second quarter.FHA-loans financed 14.3% of new home sales during the third quarter of 2017. As of the second quarter of 2017, the share of sales financed with FHA-backed mortgages had fallen five percentage points over the course of a year. After rising to 6.5% in the second quarter of 2017, 4.8% of new home sales in the third quarter of 2017 were purchased with cash. The share of new home sales financed with conventional mortgages rose to 72.8%, the highest share since the third quarter of 2016.

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