Written by The Business Journal Staff
Cash sales accounted for 20.9 percent of all home sales in Fresno in August, down 0.6 percentage points compared to August 2015.
The cash sales share in Fresno was lower than the 31.1 percent national rate, which was 1.5 percentage points lower than last year.
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 August 2016, the share should hit 25 percent by mid-2019.
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