Real estate owned (REO) sales had the largest cash sales share in December 2014 at 58.4 percent, followed by re-sales (35.4 percent), short sales (32.7 percent) and newly constructed homes (15.6 percent). While the percentage of REO sales that were cash transactions remained high, REO transactions made up only 8.8 percent of all sales in December and, therefore, had a small influence on the overall cash sales share. In January 2011, when the cash sales share was at its peak, REO sales made up 23.9 percent of total sales.
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Monday, March 9, 2015
Cash Sales Make Up 35 Percent of All U.S. Home Sales in December
Real estate owned (REO) sales had the largest cash sales share in December 2014 at 58.4 percent, followed by re-sales (35.4 percent), short sales (32.7 percent) and newly constructed homes (15.6 percent). While the percentage of REO sales that were cash transactions remained high, REO transactions made up only 8.8 percent of all sales in December and, therefore, had a small influence on the overall cash sales share. In January 2011, when the cash sales share was at its peak, REO sales made up 23.9 percent of total sales.
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