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published on July 27, 2016 - 7:18 PM
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More people in Fresno paid cash for their homes in April than last year, according to new data from real estate information firm CoreLogic.


Cash sales accounted for 24.5 percent of total home sales that month, up 0.7 percent from April 2015.

The cash sales share in Fresno was lower than the 31.6 percent national rate. The national rate was down 2.8 percentage points year-over-year, and also down 1.6 percent on a month-over-month basis.

The national cash sales share peaked in January 2011 when cash transactions accounted for 46.6 percent of total home sales. 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 April 2016, the share should hit 25 percent by mid-2018.


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