Skip to main content

All-Cash Sales Hit Seven-Year Low

Phil Hall
Mar 24, 2016
One-third of all home sales during 2015 were all-cash transactions, according to new data from CoreLogic

One-third of all home sales during 2015 were all-cash transactions, according to new data from CoreLogic. Last year’s cash sales sum was the lowest recorded since 2008 and is roughly 13 percent below the 46.6 percent peak in January 2011.

During December 2015, cash sales accounted for 33.4 percent of total home sales, down 2.8 percent from the previous year and down 3.3 percent on a year-over-year measurement. Real estate-owned sales had the largest cash sales share in December 2015 at 59.2 percent, while re-sales saw 33.4 percent in cash sales shares and short sales 30.9 percent; in comparison, only 1.54 percent of newly constructed homes were acquired via cash sales.

Delaware had the largest cash sales share of any state in December with 57 percent, followed by Alabama (50.1 percent), New York (46.5 percent), Florida (46.3 percent) and Mississippi (45 percent). Among the leading metro areas, Detroit led the nation with a 62.7 percent cash sales share, while Syracuse, N.Y. had the lowest cash sales share at 12.5 percent.

Published
Mar 24, 2016
Anchor Loans Hires Andrew Jewett As SVP, Enterprise Sales

Formerly lead lending at Sundae Inc.

Industry News
Aug 02, 2021
Pretium Adds 3 Execs With Residential Credit Expertise

New Hires Will Serve As Managing Directors

Industry News
Aug 02, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021