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IRVINE, CA—The share of all-cash property sales reached a new high in the first quarter, but the share of institutional-investor purchases of these properties dropped to its lowest level since Q1 2012, according to RealtyTrac. In a recently released report, the firm says that 42.7% of all US residential property sales in the first quarter were all-cash purchases, up from 37.8% in the previous quarter and up from 19.1% in the first quarter of 2013 to the highest level since RealtyTrac began tracking all-cash purchases in the first quarter of 2011.

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