11 Markets Where Cash Deals Make Up 50% of Sales | Realtor Magazine

11 Markets Where Cash Deals Make Up 50% of Sales

DAILY REAL ESTATE NEWS | TUESDAY, MAY 13, 2014

Cash is king in Florida home sales, according to RealtyTrac’s latest report, “U.S. Institutional Investor & Cash Sales Report.” The state boasts the highest number of metros where cash deals comprise more than half of sales.

Nationwide, cash sales are on the upswing, despite a slowdown in investor activity and a dwindling supply of foreclosures on the market. The National Association of REALTORS® reported last week that all-cash purchases made up 33 percent of transactions in the first quarter, up from 31 percent a year ago.  

According to RealtyTrac’s report, the following metros saw the most cash sales in the first quarter, amounting to more than half of all of their sales.

1. Cape Coral-Fort Myers, Fla.: 73.6%
2. Miami: 67.1%
3. Sarasota, Fla.: 65.1%
4. Palm Bay, Fla.: 64.1%
5. Lakeland, Fla.: 61.8%
6. New York: 57%
7. Columbia, S.C.: 56.1%
8. Memphis, Tenn.: 54.9%
9. Detroit: 53.5%
10. Atlanta: 53.2%
11. Las Vegas: 52.2%

Source: RealtyTrac