CoreLogic analyst Molly Boesel provides analysis on a monthly look at the share of total home sales represented by all-cash payments. Coming out of the downturn, all-cash transactions rose to almost half of all sales, particularly as investment groups were buying big portfolios of distressed and foreclosed properties to put into their single-family for-rent portfolios.
What's really interesting in Boesel's analysis is the look at state by state comparisons, and further, an examination of the metro areas where cash deals still represent an inordinate percentage of total deals:
Alabama had the largest share of any state at 47.5 percent, followed by Florida (45.2 percent), New York (42.4 percent), West Virginia (39.6 percent) and Missouri (39.5 percent). Of the nation’s largest 100 Core Based Statistical Areas (CBSAs)2 measured by population, Miami-Miami Beach-Kendall, Fla. had the highest cash sales share at 51.7 percent, followed by Philadelphia, Pa. (51 percent), West Palm Beach-Boca Raton-Delray Beach, Fla. (50.8 percent), North Port-Sarasota-Bradenton, Fla. (48.5 percent) and Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla. (47.7 percent). Washington-Arlington-Alexandria, D.C.-Va.-Md. had the lowest cash sales share at 13.6 percent.