Cash Sales Down for 26th Straight Month

According to CoreLogic, cash sales were down to 37.9 percent of total home sales in February, 2015, versus 40.6 percent in February, 2014. The drop is consistent with a downward trend leading back to January, 2013, which makes this February the 26th consecutive month of cash sale declines.

The peak of cash sales occurred in January, 2011, when 46.5 percent of all home sales were completed with cash transactions. Average cash sales were around 25 percent of total sales prior to the housing crisis. Based on the CoreLogic report, we could see these numbers return to pre-crisis averages in mid-2018.

States with the largest percentage of cash sales include Florida at 54.6 percent, Alabama at 51.9 percent, New York at 48.4 percent and Indiana at 47.8 percent.