CoreLogic is reporting that cash sales accounted for 29.7% of total home sales in July 2016, down 1.9 percentage points year over year from July 2015. REO sales had the largest cash sales share in July at 57.6%, followed by resales at 29.4%, and short sales at 28.1 percent. Newly constructed homes came in at 15%. CoreLogic says that if the overall share of cash sales continues to fall it could hit 25% by mid-2018. Overall, New York had the largest share of cash sales share at 44.6%, followed by Alabama (43.6%), Florida (39.6%), New Jersey (37.3%) and Indiana (37%).
