Cash Sales Continues Year-Over-Year Decline

Cash Sales Continues Year-Over-Year Decline
The share of all-cash home sales continued its streak of annual declines in October but remained elevated compared to pre-crisis levels, according to data released Wednesday. In estimated that cash transactions accounted for 35.5 percent of total home sales in October 2014, down from 38.7 percent the year prior. The decline continued a downward trend started in January 2013, making October the 22nd straight month to see cash sales decline on an annual basis. Cash sales peaked in January 2011,  "At the current rate of year-over-year decrease, the cash sales share should be back to pre-crisis levels in 2017," read more.