45% of U.S. Sales in August Were Cash Purchases



U.S. residential properties, including signle family homes and condominiums and townhomes, sold at an estimated annualized pace of 5.6 million in August up 2% month-to-month and 12% year-to-year, according to Realty Trac's August sales report.

Other interesting facts included in the Realty Trac August report are:

  • 45% of all residential sales in August were cash purchases, up from 39% in July and 30% year-to-year.
  • Amongst Americas major metropliton marketplaces the highest % of cash closings were in Miami (69%), Detroit (68%), Las Vegas (66%), Jacksonville (65%) and Tampa (64%).
  • Short sales accounted for 15% of all US residential sales in August, up from 14% in July. Leading way in short sales Nevada (34%), Ohio (17%), Arizona (17%) and Maryland (21%).
  • Bank-owned homes made up 10% of all US residential sales in August, up from 9% in July. Leading the way were Nevada, Ohio, Arizona and Michigan.
Posted by Kevin Aizenshtat of Gulf Coast International Properties. Kevin can be reached at 239-777-1451 or [email protected]

Warmest Regards,

Kevin Aizenshtat


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