Tri-Cities counties’ all-cash home sales continue outperforming national market share


The share of all-cash homes sales in the Tri-Cities was higher than the national share again in July.

ALL-CASH

CLICKING ON GRAPH OPENS A LARGER VIEW

According to RealtyTrac’s July Home Sales Report all-cash buyers accounted for 22.6% of all single family home and condo sales in July, down from 23.7% in June  and down from 26.5% in July 2014 to the lowest percentage of cash sales in a month since July 2008 – a 7-year low, and down from the most recent peak of 39 percent in February 2013 (highest going back as far as RealtyTrac has national data, January 2000)

Every Tennessee County in the Tri-Cities region exceeded not only the July national share but the June and July 2014 U.S. benchmarks.

The local smaller county markets continued all-cash deals at a higher rate than the larger counties with a half or more share in Johnson and Greene counties.

The RealtyTrac U.S. Home Sales Report provides percentages of  sales that are sold to cash buyers by state and metropolitan statistical area. It is derived from recorded sales deeds and loan data. Statistics for previous quarters are revised when each new report is issued as more deed data becomes available for those previous months.

RealtyTrac defines all-cash purchases as sales where no loan is recorded at the time of sale and where RealtyTrac has coverage of loan data.

 

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