Greater Hartford home cash sales declined in September by 2.1 percentage points to 21.4 percent of total sales, compared with the same period a year ago, according to CoreLogic.
Nationwide, the cash sales share stood at 31.7 percent in September, down 1.3 percentage points compared with Sept. 2015, the property analytics firm reported.
Cash sales share peaked in Jan. 2011 at 46.6 percent of total home sales nationally. Prior to the housing crisis, the cash sales share averaged approximately 25 percent. If the cash sales share continues to fall at the same rate it did in Sept. 2016, the share should hit 25 percent by mid-2019.
For distressed sales, all but nine states were lower in Sept. 2016 compared with a year earlier. Maryland had the largest share of distressed sales of any state at 18.9 percent in Sept. 2016, followed by Connecticut at 18.4 percent, Michigan (17.6 percent), New Jersey (15.9 percent) and Illinois (15.1 percent). North Dakota had the smallest distressed sales share at 2.7 percent.
