IRVINE, Calif. (11/23/15)--Despite an uptick in the number of homes purchased entirely with cash in August, the overarching downward trend signals that cash sales will fall to their pre-recession levels in 2017, according to a recent report from CoreLogic (Housingwire.com Nov. 20).
While on a monthly basis cash sales climbed 0.8%, on a yearly basis sales dropped to 31.7% of all home sales in August, down from 34.9%.
That mark is far below the post-recession peak, reached in 2011 when cash sales accounted for 46.5% of all home sales nationwide. Before the recession, 25% of all sales were made in cash.
Additional numbers from the report: