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(MoneyNewsWire.Net, June 16, 2015 ) Mobile, AL -- Cash house sales touched a peak in January of 2011, the minute 46.4 percent of house sales within the USA were cash sold. That hike was almost double the pre-property disaster average of about 25%. In October 2014, cash sales composed 35.5 percent of all residential property sales, down from 38.7 percent in October of 2013, and tagging the 22nd straight year-over-year monthly decrease.
As expected, there are substantial variations among the states. The 5 states that experienced higher cash sales in October were Alabama (51.3 percent), Delaware (58.3 percent), New York (44.4 percent), Florida (51.1 percent), and Michigan (43.1 percent). House sales involve new construction, re-sales, short sales and real estate owned (REO).
Cash sales for REO homes accounted for 58.7 percent of REO sales, whereascash sales for short sales and re-sales accounted for around 33 percent and 35 percent, respectively. All-cash sales of new houses arrived in at 16.8 percent of all new house sales.
As all sales percentage, REOs accounted for 7.9 percent of entire sales in October. In January 2011, REO sales accounted for pretty much 24% of sales.
Of the nations 100 biggest urban areas, the five Primary-based Statistical Places having the best proportion of cash sales are:
Ohio-Miami Beach, Florida: 56.6 percent
West Palm Beach-Delray Beach- Boca Raton, Florida: 56.1 percent
Fort Lauderdale-Deerfield Beach-Pompano Beach, Florida: 55.6 percent
Detroit-Livonia-Dearborn, Michigan: 55.5 percent
Cape Coral-Fort Myers, Florida: 55.2 percent
The metro-area having the lowest proportion of cash sales was D.C.-Virginia, Washington-Arlington-Alexandria at 16 percent.
The decrease in cash sales signifies that investors are searching elsewhere for profits, helping boost the inventory of houses for sale for entry level property buyers.
About Sam Winter & Company, Inc.
Sam Winter & Co., located in Fairhope, AL, is one of the leading real estate firm that provide both residential and commercial properties in Alabama region. The company offers the best-in agent and advisory options for property customers to discover for homes near the beach fronts of Alabama such as for instance Mobile, Daphne, Orange Beach, Spanish fort and Fairhope.
For more information and other media related inquiries, please contact:
City: Mobile
State: Alabama
Country: USA
Contact Name: Green Circle Agency
Contact Email: howdy@greencircleagency.com
Complete Address: P.O. Box 1085 Fairhope, AL
Zip Code: 36533
Contact Phone: 800-773-6503
Website: http://www.samwinter.com
samwinter.com
Green Circle Agency
800-773-6503
howdy@greencircleagency.com
Source: EmailWire.Com 
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