Cash Sale Volume Continues to Fall – NMP Skip to main content

Cash Sale Volume Continues to Fall

Phil Hall
Oct 23, 2015
Fewer people continue to rely on cash sales for their residential property purchasing, according to new data released by CoreLogic

Fewer people continue to rely on cash sales for their residential property purchasing, according to new data released by CoreLogic.

During July, 30.8 percent of total home purchasing involved cash sales, down 0.5 percent from June. In July 2014, 34.2 percent of these transactions involved cash sales. CoreLogic stated that the latest data reflects the lowest level in cash sales in nine years; the cash sales peak was 46.5 percent in January 2011. The pre-housing crash market averaged about 25 percent, a level that CoreLogic is forecasting for mid-2017.

Real estate-owned (REO) sales had the greatest volume of cash sales in July, with 56 percent, while re-sales totaled 30.2 percent, followed by short sales at 28 percent and newly constructed homes at15.6 percent.

On a state level, Alabama had the largest share of July cash sales (47.4 percent), followed by Florida (44.7 percent), New York (42.8 percent), West Virginia (41.1 percent) and New Jersey (39.5 percent). Five Florida markets had the largest cash sale volume as measured by major metro areas: West Palm Beach-Boca Raton-Delray Beach (53.2 percent), followed by Miami-Miami Beach-Kendall, Fla. (52.2 percent); North Port-Sarasota-Bradenton, Fla. (50.1 percent); Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla. (48.4 percent); and Cape Coral-Fort Myers, Fla. (47.9 percent).

Oct 23, 2015
OpenClose Launches Mobile Assist

OpenClose, a fintech provider of mortgage software solutions for banks, credit unions, and mortgage lenders launched its native mobile app platform, Mobile Assist.

Dec 07, 2021
Deephaven Heightens Foreign National DSCR Program

Deephaven is amping up its Foreign National DSCR Program as a response to the increase in the real estate investment market.

Dec 07, 2021
Revolution Mortgage Opens Second Mortgage Branch In Cincinnati

Columbus, OH-based Revolution Mortgage announced the opening of its second branch in Cincinnati and 14th branch in Ohio.

Industry News
Dec 06, 2021
Nations Lending Teams Up With NBA Legend Dennis Rodman On Integrated Brand Campaign

Nations Lending, a full-service national mortgage lender, announced the launch of its first integrated brand campaign starring NBA Champion and All-Star Dennis Rodman.

Sales and Marketing
Dec 06, 2021
Black Couple 'Erased Themselves' From Home, Receives Higher Appraisal

Paul Austin and his wife, Tenisha Tate-Austin are looking to take legal action after receiving a higher appraisal on their home only after “white-washing” their home by removing any trace of themselves.

Industry News
Dec 06, 2021
Manufactured Housing: The New Affordable Alternative

While the housing market is grappling with widespread affordability and supply, manufactured homes are gaining ground as a new alternative. 

Industry News
Dec 03, 2021