Cash sales made up 36.1 percent of total home sales in November 2014, down from 38.8 percent in November 2013, according to a new report from real estate data and analytics firm CoreLogic. The year-over-year share has fallen each month since January 2013, making November the 23rd 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. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent.

The majority of real estate owned (REO) sales were cash sales in November 2014, with 61.1 percent of REO sales for cash. More than a third, or 35.2 percent, of existing home sales were cash, while 32.7 percent of short sales were cash sales. Just 16.3 percent of newly constructed home sales were for cash.

While the percentage of REO sales that were cash transactions remained high, REO transactions made up only 10 percent of total sales in November and, therefore, had a small 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 percent of total sales, according to CoreLogic.

Michigan had the largest share of any state, with 54.4 percent of sales in that state for cash, followed by West Virginia (53.3 percent), Florida (51.4 percent), Alabama (50.7 percent) and South Dakota (45.5 percent). Connecticut’s cash sales share was 35 percent in November, according to CoreLogic.

Of the nation’s largest 100 most populous metropolitan areas as defined by the U.S. Census, Detroit, Mich. had the highest share of cash sales at 63.2 percent, followed by Miami-Miami Beach, Fla. (58.2 percent); West Palm Beach-Boca Raton, Fla. (57.3 percent); Philadelphia, Penn. (55.9 percent); and Fort Lauderdale, Fla. (55.7 percent). The Washington, D.C. metro area had the lowest cash sales share at 15.8 percent.