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Cash sales nearing pre-recession numbers, CoreLogic says

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During the month of April, about one of three home purchases was paid for in cash, according to CoreLogic. Although that seems like a steep percentage, it’s actually lower than the year before. During April 2015, 34.4 percent of homes sold were cash sales. This year, however, that number dropped down to 31.6 percent, even declining 1.6 percentage points from the month before. Cash sales accounted for 33.9 percent of purchases from January to April this year. Prior to the housing crisis, an average of 25 percent of home sales were cash sales, CoreLogic says. The research firm forecasts that if cash sales continue to decline at the current rate, they will be back to pre-crisis numbers in 2018. Corelogic Cash sales peaked at the start of 2011, when 46.6 percent of sales were cash…

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