ORLANDO, Fla. – Sept. 10, 2014 – Over half of Florida's June property sales (50.9 percent) were all-cash transactions, according to CoreLogic, an Irvine, California-based financial data company. Second-place Alabama had 48 percent all-cash sales.
In a comparison of large U.S. cities, Cape Coral-Fort Myers led the nation in all-cash sales at 61.2 percent, and four other Sunshine State cities followed it: West Palm Beach-Boca Raton-Delray Beach (60.6 percent), North Port-Sarasota-Bradenton (59.8 percent), Miami-Miami Beach-Kendall (58.7 percent) and Fort Lauderdale-Pompano Beach-Deerfield Beach (58.5 percent).
Other states rounding out the top spots for all cash sales are New York (44.6 percent), Kentucky (40.1 percent) and Nevada (40 percent).
Nationally, however, all-cash sales made up 33 percent of all transactions – the lowest percentage since September 2008, according to CoreLogic. The share of all-cash sales has fallen year-to-year since January 2013.
Before the housing meltdown, cash sales historically made up about 25 percent of all transactions. They reached their peak (46.2 percent) in January 2011.
The Washington, D.C. area had the lowest cash sales nationally at 15.6 percent.
© 2014 Florida Realtors®
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