Cash sales dropped
on a year-over-year basis for the 22nd consecutive month in October and
CoreLogic is projecting they will return to their pre-crisis levels by
2017. All-cash transactions represented
a slightly higher share of transactions in October than in September, 35.5
percent versus 35.0 percent, but the company said the relative share of those
sales typically rises during the fall and winter months. They suggest that year-over-year comparisons
are more indicative of trends.
And that trend is
undeniably down. Compared to October
2013 cash sales have retreated by over 3 percentage points. In October 2013 they made up 38.7 percent of home
sales. The peak for cash sales came in January 2011 at 46.4 percent. After beginning a steady decline in January
2013 cash sales are on track to return to their pre-crisis level of around 25
percent by 2017.