Thursday, July 2, 2015

RealtyTrac Reports All-Cash Share of U.S. Home Purchases in May Drops to Lowest Level Since November 2009


Craig King
IRVINE, CA, July 2, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its May 2015 U.S. Home & Foreclosure Sales Report, which shows 24.6 percent of all single family home and condo sales in May were all-cash purchases, down from 28.5 percent in the previous month and down from 30.4 percent a year ago to the lowest level since November 2009.

The cash sales share in May was close to its long-term average going back to January 2000 of 24.8 percent and well below its recent peak of 42.2 percent in February 2011.

“For the potential first time homebuyer or move up buyer this is a good time to move ahead,” said Craig King, COO at Chase International brokerage, covering the Lake Tahoe and Reno, Nevada, markets.

“Interest rates remain historically low, and the outlook for price appreciation is great. The competition in the market place is also different. 

“While inventory is tight many investors have dropped out of the market and cash deals are not as prevalent as they were. Even in multi-offer situations much has been equalized. This is great news for first time buyers.”

For a complete copy of the company’s news release, please contact:

Ginny Walker
949.502.8300, ext. 268

Jennifer von Pohlmann
949.502.8300, ext. 139

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