Cash-only Home Sales Declining But Still One-Third of Transactions
Although all-cash sales of homes aren’t as prevalent now as they were during the housing crisis, they still account for one-third of all home sales, according to CoreLogic.
Yuliya “Julie” Sidorevskaya, a real estate broker in Miami, says there are still plenty of buyers with cash willing to purchase. But there’s a lack of available homes for them to buy.
“They’re all just sitting on the sidelines. They have cash sitting there, but I can’t get them inventory,” Sidorevskaya says.
For the first three months of this year, the cash sales share averaged 34.7 percent, the lowest start of the year since 2008, according to the report released by CoreLogic on June 23.