Greater Hartford home cash sales declined 5.2 percentage points in Dec. 2016 compared to the same period last year, according to CoreLogic.
About 22.6 percent of Hartford area homes were purchase with all cash, lower than the 27.8 percent in 2015 and more than 10 percentage points lower than the 33.1 percent national rate. Cash sales include real-estate-owned sales, short sales and resales.
Connecticut’s share of cash sales as a part of total home sales was 26 percent, the property analytics firm said.
Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent. If the cash sales share continues to fall at the same rate it did in December 2016, the share should hit 25 percent by mid-2019, CoreLogic said.
