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

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Phil Hall

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Apr 27, 2017

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