Skip to main content

Cash Sales for Homes Remains Steady

Phil Hall
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
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021