According to the latest data, cash sales continue to decline as an overall percentage of the market in Chicago.
The report, out from CoreLogic, also shows that cash sales have dipped below the national average for the city for the month of May. Nationally, cash sales made up 31.9 percent of all sales, down from 35.1 percent. Before the economic crisis, cash sales were approximately 25 percent of the market.
In Chicago, cash sales account for 30.2 percent of the market. The movement is a sign of continuing health for the local housing market and means good news for financed and particularly first-time buyers are stiff competition from cash buyers has kept them out of the market in recent years.
For more, including some nifty graphs, head over to Chicago Agent Magazine here.