All-Cash Sales Make Up Fewer Transactions

Molly Boesel   |   August 19, 2015

Fewer buyers are paying all cash for real estate. The percentage of cash sales now matches the lowest share since 2009, comprising 22 percent of existing-home sale transactions in June, according to the National Association of REALTORS®. A year ago, the percentage of all-cash sales from existing-homes stood at 32 percent. Cold Cash Cools Off Cash Sales Are Weakening Here's Where Buyers Are Paying All-Cash Dwindling Competition for Home Buyers? Individual investors tend to account for the bulk of cash sales and purchased 12 percent of homes in June, the lowest number since August 2014. Sixty-six percent of investors paid cash in June. A new report from CoreLogic also shows a receding number of all-cash sales. According to CoreLogic’s data, cash sales peaked in January 2011 at 46.5 percent of total home sales nationally. According to CoreLogic, the following states had the highest share of cash sales in May: Florida: 47.8% New York: 45.8% New Jersey: 45.8% Alabama: 44.2% Michigan: 38.4% By metro level, the cities with the highest share of cash sales are: West Palm Beach-Boca Raton-Delray Beach, Fla.: 58.1% North Port-Sarasota-Bradenton, Fla.: 55.9% Cape Coral-Fort Myers, Fla.: 55% Detroit-Dearborn-Livonia, Mich.: 54.6% Miami-Miami Beach-Kendall, Fla.: 54.6%

Source: Core Logic Insights Blog