Cash home sales were 32.5% of all transactions in September, down from 35.9% 12 months ago. Cash sales peaked in 1/11 at 46.6% and have historically averaged 25% of sales. At the current rate of improvement, cash transactions should return to 25% by mid to late 2017. Cash sales were 58.3% of REO sales, 32% of resales, 29.1% of short sales and 15.9% of new home sales.