CoreLogic released its April cash sales report today, and as has been the trend all year, cash sales declined year-over-year, bringing national levels closer to the pre-crisis baseline of around a 25 percent market share.

In April, cash sales accounted for 33.7 percent of total home sales. The decrease from 37.4 percent in April 2014 is the 28th consecutive year-over-year decline in cash sales. Since the cash sales peak in Jan. 2011, when market share reached heights of 46.5 percent, a shift in market dynamics has allowed more first-time and traditionally financed buyers to enter and re-enter, leveling price appreciation and dissuading all cash investors to search for quick returns elsewhere.

Researchers with CoreLogic expressed optimism in cash sales maintaining their current rate of decline. They said if declines continue, cash sales would fall to 25 percent by mid-2017.

In Florida, where cash sales represent a 51 percent market share, a wave of building and slowing price appreciation is driving cash sales declines in the Miami area. However, despite dropping 5.6 percentage points year over year, the Magic City’s cash sales share remains at 56.8 percent, and among the highest in the nation. International buyers are helping to sustain the high levels of cash, and as Miami has only worked to broaden its international appeal, the slow rate of cash sales decline is likely to continue.