Fewer homes are being purchased with cash these days.

Cash sales accounted for 33.9% of total home sales in 2015, which is the lowest point since 2008, according to Molly Boesel of CoreLogic.

In December 2015, cash sales accounted for 33.4%, down 3.3 percentage points from 36.7% in December 2014. On a month-over-month basis, the cash sales share fell by 2.8 percentage points in December 2015 compared with November 2015. The month-to- month decrease in cash sales share was larger than normal for the month of December, indicating that the elevated share reported for November, and attributed to the new federal mortgage rules (TRID), was temporary.

The cash sales share peaked in January 2011 when cash transactions accounted for 46.6% of total home sales nationally. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25%. If the cash sales share continues to fall at the same rate it did in December 2015, the share should hit 25% by mid-2017.

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