Home cash sales continue to drop

Cash sales accounted for 33.7 percent of all U.S. home sales in April, according to CoreLogic in Irvine.

That was down from 37.4 percent in April 2014, the 28th consecutive month that category has declined and the lowest percentage recorded since September 2008, stated CoreLogic, which released its monthly report on homes purchased by cash on Thursday.

Home cash sales peaked in January 2011, when those transactions accounted for 46.5 percent of all home sales throughout the United States.

Before the housing crisis, cash sales accounted for about 25 percent of all home sales nationwide. At the current rate of decline, the percentage of cash sales would return to 25 percent in about two years, CoreLogic stated.