Cash Home Sales continue to Decline

housingwire creditRepresenting the lowest share of cash home sales since May 2010, 34.4 percent of total home sales in May 2014 were with cash, a drop from April’s 36.9 percent of all cash, according to CoreLogic’s report says, “The share has fallen on a year-over-year basis each month since January 2013. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25%. The peak occurred in January 2011, when cash transactions made up 46.2% of total home sales.” MHProNews has learned real estate-owned (REO) transactions comprised 8.2 percent of sales in May, compared to Jan. 2011 when REO sales made up 24 percent of total sales. ##

(Image credit:–cash home sales fall)

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