DataMarkets & Economy

Cash sales continue to drop across major metros

Cash sales highest in New York, Florida and Alabama
  • Cash sales accounted for 29.3 percent for home sales in June 2016, according to CoreLogic data.
  • This is the first month since 2007 that the cash sales share has dipped below 30 percent.
  • New York State had the highest share of cash sales of any state in June, at 44.8 percent. Alabama was a close no. 2, with 44.6 percent.

According to a new CoreLogic report, cash sales across the country decreased 2.5 percent annually in June. At this rate, CoreLogic analysts predict the cash sales percentage market share will be back to 25 percent by mid-2018, or roughly what it was pre-housing bust.Cash sales accounted for 29.3 percent of national sales in the month of June. This is the first month since 2007 that the cash sales share has dipped below 30 percent, according to CoreLogic.Cash sales percentages by state, courtesy CoreLogic Local markets and states New York State had the highest share of cash sales of any state in June, at 44.8 percent. Alabama was a close no. 2, with 44.6 percent. New York City seems right on par with the state. Cash sales in the metro area, which includes Jersey City and White Plains, reached 45.6 percent in June, a 2.03 percentage point increase since 2015.Baltimore cash sales just slightly exceeded the state of Maryland in June. Cash sales in Baltimore drop...

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