Cash sales down in Houston housing market amid oil slump
Fewer people are buying Houston homes using only cold hard cash, according to a new report.
Cash sales represented 27.5 percent of all home sales in the Houston metro region in May, a decline of about 5 percentage points year over year, according to according to CoreLogic Inc. (NYSE: CLGX).
For comparison, cash sales accounted for 27 percent of all homes sales in Texas and 30 percent of all home sales nationally, according to the Irvine, California-based real estate company.
Detroit had the largest...