Cash sales comprised 31.1% of total home sales in August 2016, down 1.5% year over year from August 2015. This share averaged approximately 25% before the housing crisis, and peaked at 46.6% in January 2011.
REO sales had the largest cash sales share in August 2016 at 58.6 percent. Resales had the next highest cash sales share at 31 percent, followed by short sales at 29.1 percent and newly constructed homes at 15.6 percent.
Distressed sales made up 7.3% of home sales in August – the lowest share recorded since September 2007. The pre-crisis distressed sales share averaged about 2%, and peaked at 32.4% in January 2009.All but eight states recorded a lower share of distressed sales than they had one year ago, though only North Dakota and the District of Columbia are within one percentage point of their pre-crisis distressed sale shares.