Real Estate News

Cash home sales fall back to lower levels

The sale of homes for cash is continuing its return to normal levels after a peak during the recession, a national data collection company reported today.

Some 32.5 percent of homes sold nationwide in September were paid for in cash, CoreLogic Inc. said. That’s down 3.4 percentage points from the same month last year.

In the Tacoma-Lakewood area, the financial data company said 18.4 percent of homes were purchased for cash in September. That was a drop of 4.9 percentage points from September 2014.

Nationwide, the highest percentage of cash sales were in January 2011 when 46.6 percent of total home sales were for cash. Prior to the mortgage crisis, the cash home sales averaged roughly 25 percent nationwide, said CoreLogic.

The highest percentage of cash sales in September occurred in cities known as retirement havens. In Miami, for instance, 50.8 percent of homes sold for cash. West Palm Beach-Boca Raton-Delray Beach, also in Florida, was next with 50.6 percent cash sales.

John Gillie: 253-597-8663