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Tag Archives: Cash Sales Share

Shrinking REO Inventory Drives Down Cash Sales Share

At their peak in January 2011, cash sales accounted for nearly half of all residential home sales in the United States (46.5 percent). Since then, that percentage has steadily declined; in August 2015, it was reported at 31.7 percent, less than one-third of all home sales—a decline of more than 3 percentage points from August 2014, when it was 34.9 percent.

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Cash Sales Share Drops to Nine-Year Low

With July’s decline, the cash sales share has fallen year-over-year every month since January 2013, a total of 31 consecutive months, according to CoreLogic. July 2015’s reported share of 30.8 percent was a dropoff from the share of 34.2 percent reported in July 2014. As has historically been the case, REO sales made up 56 percent of cash sales in July 2015, and resales had the second highest share at 30.2 percent.

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Drop in REO Sales is Driving Continued Decline in Cash Sales Share

May 2015's cash sales share of nearly 32 percent was down by 31 percent from the peak of 46.5 percent recorded in January 2011. CoreLogic estimates that if the cash sales share continues to decline at the same rate as it did in May 2015, the cash sales share should fall back down to its pre-crisis level of 25 percent by the middle of 2017.

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