While cash sales may be on the decline nationally, compared to 2011 and 2012 when cash sales were at their peak. There are still areas in the housing market, where cash is king. ATTOM Data Solutions just released its Year-End 2018 Home Sales Report and in the vast sets of data mentioned in the report – home seller-gains, institutional investor sales, FHA sales, distressed sales, median sales prices, homeownership tenure and peak prices – the percent of cash sales are among those datasets.
In the report ATTOM Data discussed some metro areas where the share of all-cash purchases is among the highest in the nation. However, what about those metro areas that are bucking the national trend and seeing annual increases in the percent of cash sales. Nationwide all-cash purchases accounted for 27.8 percent of single-family home and condo sales in 2018, unchanged from 2017 but down from its peak in 2011 at 38.4 percent. However, this is still well above the pre-recession average of 18.7 percent between 2000 and 2007.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.