The number of all cash transactions peaked in Jan. 2011, accounting for over 46 percent of total home sales. In September of this year, cash sales represented a much smaller portion of total sales with a 32.5 percent share, according to CoreLogic, which reported a year-over-year percentage point decline of 3.4.
From August to September, cash sales ticked up 0.2 percentage points, but CoreLogic researchers disregarded the increase as negligible, writing that “the cash sales share typically increases month over month in September.” However, this is the third straight month of month-over-month increases. Since July, cash sales are up 1.7 percentage points.
In Miami, cash sales remained a significant market factor with a 50.8 percent share of total sales – largely a result of the international attention the city draws. However, despite owning one of the nation’s highest cash sales share, year-over-year, cash transactions were down 5.9 percentage points.
Statewide, cash transactions have fallen below the 50 percent mark, but at 45 percent of total sales, the share is still significant.