In September, cash sales increased slightly despite the autumnal slump, but remain at relatively low levels, according to a new report from CoreLogic.
In recent months, cash investors have been seen fleeing the market, driving down the share of cash sales, but in September, that trend reversed slightly. Up a single percentage point from August, September cash sales made up 34.8 percent of total transactions. However, measuring year-over-year, which is generally the best way to evaluate such trends, cash sales actually fell nearly three percentage points.
September’s decline represents 20 months of consecutive year-over-year losses, bringing us closer to the 25 percent level common in pre-crisis years.
In Massachusetts, cash sales rose from 24 percent in August to 25 percent in September, keeping the state in a healthy, pre-crisis territory and giving it one of the lowest cash sale shares in the country.
Check out our graph below to see how we compare