Skip to main content

Cash Sales for Homes Remains Steady

Apr 27, 2017
Average mortgage rates were down slightly in the latest Freddie Mac data

The cash sales share for all home sales in January 2017 was 36.5 percent, unchanged from a year ago, according to new data from CoreLogic.
 
Alabama had the largest cash sales share of any state at 52 percent, followed by New York (49.7 percent), Florida (48.3 percent), Indiana (46 percent) and Missouri (45.4 percent). The national cash sales share peaked in January 2011 at 46.6 percent.
 
Real-estate owned (REO) sales had the largest cash sales share in January at 61.2 percent, followed by resales at 36.5 percent and newly constructed homes at 17.7 percent. All but eight states recorded lower distressed sales shares in January compared with a year earlier, most notably Connecticut (17.3 percent of all sales), Maryland (16.3 percent), Michigan and New Jersey (both at 15.1 percent). North Dakota had the smallest distressed sales share at 1.2 percent. 
The cash sales share for all home sales in January 2017 was 36.5 percent, unchanged from a year ago, according to new data from CoreLogic
About the author
Published
Apr 27, 2017
Co-Founder Mat Grella Terminated From NEXA

NEXA CEO Kortas states negotiations regarding the buyout will continue.

Mar 27, 2024
Comings And Goings At AmeriHome

Chief Operating Officer John Hedlund announced his retirement on Thursday in a LinkedIn post.

Mar 22, 2024
Rocket's Tim Birkmeier To Retire

Birkmeier is bidding farewell after a 28-year career at Rocket Companies.

Mar 21, 2024
How NAR’s Settlement Impacts Homebuying

While the settlement's silver lining is that homes are expected to become more affordable, many uncertainties loom over the housing market.

Mar 19, 2024
NAR Reaches $418 Million Settlement

The association agreed to give home sellers the option of compensating agents.

Mar 15, 2024
U.S. Non-Bank Mortgage Lenders Surge Amid Industry Consolidation, Fitch Ratings Reports

As smaller players exit the market, scaled originators like UWM and PennyMac Financial dominate, but challenges persist with low origination volume and pressured margins amidst rising interest rates.

Mar 14, 2024