All-Cash Home Sales Rise Dramatically

New York, NY, Aug. 16, 2013 -- More than half of all homes sold last year and this year have been financed without a mortgage, according to a story in the Wall Street Journal.

The journal, citing an analysis by economists at Goldman Sachs Group, said that about 20% of sales before the housing crash were “all-cash” sales but the all-cash share of sales has more than doubled.

The Goldman study analyzed home sales figures from the Census Bureau and the National Association of Realtors and mortgage-origination data from the Mortgage Bankers Association and Lender Processing Services.