Cash Sales Lowest Share of Home Sales in U.S. Since September 2008
2015-07-21
Real estate-owned (REO) sales had the largest cash sales share in April 2015 at 56.6 percent and was the only sales category to see a year-over-year increase in the cash sales share. Resales had the next highest cash share at 33.3 percent, followed by short sales (30.4 percent) and newly constructed homes (15.3 percent). While the percentage of REO sales that were all-cash transactions remained high, REO transactions made up only 7.4 percent of all sales in April 2015. In January 2011 when the cash sales share was at its peak, REO sales made up 23.9 percent of total home sales. Resales make up the majority of home sales (about 81 percent in April 2015), and therefore have the biggest impact on the total cash sales share.
Florida had the largest share of any state at 51.4 percent, followed by Alabama (48.5 percent), West Virginia (48.3 percent), New York (45.4 percent) and Kentucky (41.4 percent). Of the nation's largest 100 Core Based Statistical Areas (CBSAs) measured by population, West Palm Beach-Boca Raton-Delray Beach, Fla. had the highest share of cash sales at 59.1 percent, followed by North Port-Sarasota-Bradenton, Fla. (58.5 percent), Cape Coral-Fort Myers, Fla. (58.1 percent), Detroit-Dearborn-Livonia, Mich. (58.0 percent) and Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla. (56.9 percent). Syracuse, N.Y. had the lowest cash sales share at 11.0 percent.
Source：http://www.worldpropertyjournal.com/real-estate-news/united-states/cash-home-sales-data-2015-corelogic-real-estate-owned-sales-reo-sales-cash-sales-portion-to-home-sales-all-cash-transaction-home-sales-in-2015-9232.php
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