Cash Sales Drop to Lowest Point Since Crash

Cash sales drop to 34% of all home sales in April 2015

By Jeff Sorg, OnlineEd Blog, July 29, 2015

dropping dollarIrvine, CA. – Cash sales made up 33.7 percent of total home sales in April 2015, which is down from 37.4 percent in April 2014, according to the Core Logic July 2015 Market Pulse publication. Cash sales have fallen year-over-year each month since January 2013. April 2015 is the 28th consecutive month of decline.

According to Core Logic’s report, cash sales peaked in January 2011 when cash made up 46.5 percent of total home sales. Prior to the crash the report estimates total home sales averaged 25 percent of the market.

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About Jeff Sorg

Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center's CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.