The share of all cash sales continue to fall in December along
with the volume of distressed property sales. CoreLogic said on Monday that
35.5 percent of total home sales in December were all cash, down from 38.5
percent from December 2013 and 0.5 percent lower than just a month before. The share
of cash sales has fallen year-over-year since January 2013, making December the
24th straight month of declines.
Cash sales peaked at 46.5 percent of all sales in January
2011 and are now about half-way back to the average that existed prior to the
housing crisis – approximately 25 percent.
CoreLogic projects that should cash sales continue at the December rate
of decline these sales should be back to that quarter-share level by mid-2017.