In September 2015, the cash sales share declined by another 3 point 4 percentage points year-over-year down to 32 point 5 percent, meaning all-cash transactions accounted for less than one-third of all residential home sales during the month, according to data released by CoreLogic on Monday. At their peak in January 2011, all-cash transactions accounted for close to half of all homes sales at 46 point 6 percent.
About 58 point 3 percent of cash sales were REO properties in September, making it the category with the largest cash sales share over short sales, re-sales, and new home sales. Even though the percentage of cash transactions that were REO remained high, REO properties accounted for a small percentage of cash transactions overall at 6 point 4 percent. At their peak in January 2011, REO sales accounted for nearly one-quarter of all home sales at 23 point 9 percent.
As the winter season presses on, the housing market is experiencing a seasonal slowdown in activity among home sales, prices, and inventory. The RE/MAX National Housing Report for November 2015 showed that home sales in were down this month for the third time this year in 53 metros surveyed. Home prices are still higher than they were last year, but have slowed over the last three months, making affordability less of an issue heading into winter.