Cash deals for homes remains in decline

Real estate analytics firm CoreLogic reports cash sales made up 35.5 percent of  home sales nationally in December, down from 38.5 percent in December 2013.

The year-over-year share has fallen each month since January 2013, making December the 24th consecutive month of declines. The Irvine, Calif., firm  said the peak occurred in January 2011 when cash transactions made up 46.5 percent of total home sales. Prior to the real estate bust, the cash sales share of total home sales averaged approximately 25 percent. Should the cash sales share continue to fall at the same rate that it did in December 2014, the share should reach 25 percent in mid-2017.

While Portland Metro area cash sales declined nearly 10 percent in December, accounting for just over one in five house sales, the statewide figure for Oregon was 26 percent.

CoreLogic notes cash sales share comparisons are best suited for year-over-year analysis because of the seasonality of the market.

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The Conference Board Employment Trends Index jumped 6.7 percent in in February to 127.76, up from 127.62  in January.

The bump was the 14th straight, and the longest consecutive positive stretch in 30 years.

“Strong job growth and the rapid decline in the unemployment rate are likely to continue, and acceleration in wage growth is just a matter of time,” said Gad Levanon, Managing Director of Macroeconomic and Labor Market Research at The Conference Board in a statement.

The index surge was driven by percentage of firms with positions unable to fill immediately, the ratio of involuntarily part-time to all part-time workers, real manufacturing and trade sales, industrial production, along with job openings.

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We may be seeing Dollar General stores in the Rogue Valley sooner than later.

The Goodlettsville, Tenn.-based competitor of Dollar Tree has opened its first two Oregon stores in Brookings, where it built a 9,000-square-foot shop along U.S. 101, and Winston.

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