Cash sales made up 35.5% of total home sales in October 2014, down from 38.7% in October 2013, according to CoreLogic (CLGX).

The year-over-year share has fallen each month since January 2013, making October the 22nd consecutive month of declines. Month over month, the cash sales share ticked up by half of a percentage point, as is typical for the fall and winter months.

Due to seasonality in the housing market, cash sales share comparisons should be made on a year-over-year basis.

The peak occurred in January 2011 when cash transactions made up 46.4% of total home sales. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25%. At the current rate of year-over-year decrease, the cash sales share should be back to pre-crisis levels in 2017.

Real estate owned (REO) sales had the largest cash sales share in October 2014 at 58.7%, followed by re-sales (35%), short sales (33%) and newly constructed homes (16.8%).

While the percentage of REO sales that were cash transactions remained high, REO transactions made up only 7.9% of total sales in October and, therefore, did not have a large influence on the overall cash sales share. In January 2011, when the cash sales share was at its peak, REO sales made up 23.9% of total sales.

Delaware had the largest share of any state at 58.3%, followed by Alabama (51.3%), Florida (51.1%), New York (44.4%) and Michigan (43.1%). Of the nation's largest 100 Core Based Statistical Areas (CBSAs) measured by population, Miami-Miami Beach-Kendall, Fla. had the highest share of cash sales at 56.6%, followed closely by West Palm Beach-Boca Raton-Delray Beach, Fla. (56.1%), Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla. (55.6%), Detroit-Dearborn-Livonia, Mich. (55.5%) and Cape Coral-Fort Myers, Fla. (55.2%). Washington-Arlington-Alexandria, D.C.-Va.-Md. had the lowest cash sales share at 16.0%.