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.
Published
Mar 22, 2017
Guild Mortgage Announces Medical Professional Mortgage Program

Guild Mortgage introduced a new mortgage product to help medical professionals buy their first home with no down payment.

Industry News
Oct 27, 2021
Mortgage Coach And HomeBinder Partner On New Integration For Homeowners

Mortgage Coach announced a new integration with HomeBinder aimed to help homeowners stay connected with their lenders.

Tech
Oct 27, 2021
Non-QM Lender Angel Oak Appoints David Raju As Group CIO

Firm continues to seek ways to optimize data and improve technology capabilities.

Non-QM
Oct 27, 2021
Evergrande Steadily Repays Debt While Taking On New Risk

Evergrande Chairman Hui Ka Yan has ambitious plans, signaling last Friday that the firm wants to move away from housing and focus on making electric cars. 

Industry News
Oct 26, 2021
Planet Home Lending Reports Q3 Gains In Asset Management, Servicing And Originations

The Planet Home Financial Group, LLC, parent company of Planet Home Lending, LLC and Planet Management Group, LLC reported steady growth across its servicing, correspondent and private-client channels.

Industry News
Oct 26, 2021
CFPB, DOJ And OCC Hit Trustmark National Bank For 'Deliberate' Redlining

The Consumer Financial Protection Bureau and U.S. Department of Justice, in conjunction with the Office of the Comptroller of the Currency are taking action against Trustmark National Bank for alleged redlining violations.

Industry News
Oct 25, 2021