Skip to main content

One-Third of Home Sales Were All-Cash Transactions

Phil Hall
Mar 22, 2017
The dollar volume for all mortgage originations in 2016 was nearly $2 trillion, according to a new analysis from CoreLogic

Cash sales accounted for 33.1 percent of total home sales in December, down 1.3 percent year-over-year, according to new data from CoreLogic. For the full-year 2016, the cash sales share was 32.1 percent, 2.2 percent below the full-year 2015 share. CoreLogic estimated that cash sales will reach 25 percent of all transactions by mid-2019.
Real-estate owned (REO) sales had the largest cash sales share in December, at 61.1 percent, followed by short sales at 34.2 percent, resales at 33 percent and newly constructed homes at 16.7 percent. New York and New Jersey had the largest cash sales share among the states in December, 47.9 percent and 47.6 percent, respectively.
CoreLogic also reported the distressed sales share of 7.8 percent in December was the lowest distressed sales share for any month since October 2007. The distressed sales share for the full-year 2016 was 8.9 percent, down 2.1 percent from the full-year 2015 and the lowest annual distressed sales share since the six percent level recorded in 2007.
Fifth Third Bank Expands Down Payment Assistance Program

The program will provide up to $3,600 towards a down payment for families with low to moderate income.

Industry News
Jun 09, 2021
Filo Mortgage Launches Low-Rate Guarantee

National mortgage lender Filo Mortgage is offering to beat competitors' pricing by $1,000 with its Low-Rate Guarantee.

Industry News
Jun 08, 2021
FAU Index Shows Where Consumers Should Buy Or Rent

Consumers are better off renting in cities like Dallas, Texas

Industry News
Jun 07, 2021
Verus Title Inc. Expands Into Dallas-Fort Worth Texas

Verus plans to take advantage of the Dallas-Fort Worth market before expanding throughout the state.

Jun 07, 2021
Freddie Mac Multifamily Extends Forbearance Deadline To September

Freddie Mac Multifamily extended the deadline for requesting a new COVID-19 forbearance agreement for its Multifamily loans to September 30, 2021.

Industry News
Jun 04, 2021
Fannie Mae Launches 'Your Own Story' To Educate Future Homebuyers

Fannie Mae is seeking to help demystify the homebuying process for future homeowners with “Your Own Story.” A new campaign to educate future homebuyers on the entire process.

Industry News
Jun 04, 2021