2014 Total Housing Purchases Slightly Lower as All-Cash Home Purchases Fall

Total existing home sales dropped 5.3 percent from last year and all-cash purchases accounted for 23 percent of the purchases, a 6 percent drop from July 2014. Despite the decline in all-cash investors, NAR President Steve Brown believes the housing market is in good shape now that more first-time buyers have the opportunity to finance a home.

The National Association of Realtors has the full story.