Cash Sales Drop to 32 Percent of Home Sales

Cash sales made up 31.9 percent of total home sales in May 2015, down from 35.1 percent in May 2014

By Jeff Sorg, OnlineEd Blog

(c) Can Stock PhotoOnlineEd (August 19, 2015). – According to a report by Core Logic, cash sales made up 31.9 percent of total home sales in May 2015, down from 35.1 percent in May 2014. May 2015 the 29th consecutive month of declines. The year-over-year share has fallen each month since January 2013 . Month-over-month, the cash sales share fell by 1.7 percentage points in May 2015 compared with April 2015.

Cash sales share peaked in January 2011 at 46.5 percent of total home sales nationally. Before the housing crisis, cash sales totaled approximately 25 percent of total home sales.

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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.