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Cash sales made up 39 percent of Pa. home sales in January

Cash sales accounted for 39.1 percent of Pennsylvania home sales in January, which was down from 39.8 percent in January 2014, according to California-based CoreLogic Inc.

By comparison, New York was at 48 percent, Ohio and West Virginia were at 43 percent, New Jersey was at 36 percent and Maryland was at 20 percent.

Nationally, all-cash home sales were 38.9 percent in January, according to CoreLogic. That was down from 41.5 percent in January 2014.

Before the housing crisis, the cash sales share of U.S. home sales averaged about 25 percent.

Bank-owned sales had the largest cash sales share in January at 60 percent, followed by resales at 38.5 percent, according to CoreLogic.

Florida had the largest share of any state at 56.3 percent, followed by Alabama at 54.7 percent. Maryland continues to have the lowest percentage of all-cash sales, according to CoreLogic.

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