The MReport Webcast: Tuesday 10/21/2014

All-cash home sales slipped yet again in July, falling to their lowest share in nearly six years. According to transaction data from CoreLogic, home sales transacted entirely in cash accounted for 32.9 percent of total home sales in July, down from 35.9 percent in July 2013. It was the lowest cash share since August 2008. As of July, all-cash sales were still well above their pre-crisis average of 25 percent as traditional mortgage buyers still find it difficult to get a foot into the market.

By transaction type, REO sales continued to account for the majority of all-cash sales at 56.3 percent, CoreLogic reported. They were followed by re-sales at just under a third, short sales at 31 percent, and newly built homes at 16 percent. While REO sales still account for more than half of cash transactions, REOs made up only 7 percent of total sales in July, meaning they made little impact on the overall cash sales share.

Credit reporting firm Equifax released on Monday its latest National Consumer Credit Trends Report, revealing that the total balance of new credit for revolving home equity loans in the year's first seven months was just under $66 billion. The figure, up 21.4 percent year-over-year, marks a six-year high. While home equity lending is up, total HELOC volumes are still just more than a third of what they were before the financial crisis. However, that segment is expected to continue gaining momentum as home values rise and lenders seek to avoid compliance burdens.