{"id":6896,"date":"2014-09-11T14:20:40","date_gmt":"2014-09-11T14:20:40","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=6896"},"modified":"2014-09-11T14:20:40","modified_gmt":"2014-09-11T14:20:40","slug":"buyers-facing-less-competition-cash-buyers","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/buyers-facing-less-competition-cash-buyers\/","title":{"rendered":"Buyers Facing Less Competition From Cash Buyers"},"content":{"rendered":"

Buyers Facing Less Competition From Cash Buyers<\/h2>\n
\"Buyers<\/a>

Buyers Facing Less Competition From Cash Buyers. Image courtesy of Vichaya Kiatying-Angsulee \/ FreeDigitalPhotos.net<\/p><\/div>\n

The percentage of cash sales fell to 33 percent of total home sales in June, marking the lowest share since September 2008, CoreLogic reports. A year ago, cash sales stood at 36.3 percent of the market; they have been falling steadily since January 2013.<\/p>\n

Historically, cash sales make up about 25 percent of total home sales, according to data prior to the housing crisis. In 2011, cash sales peaked at 46.2 percent of sales nationwide, CoreLogic reports.<\/p>\n

Buyers are using cash mostly to purchase real estate\u2013owned properties, or REOs. Fifty-five percent of REOs are all-cash transactions, followed by nearly 33 percent of resales, about 32 percent of short sales, and 16 percent of newly built homes.<\/p>\n

The following states had the largest share of cash sales in June, according to CoreLogic:<\/p>\n