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Business Observer Wednesday, Apr. 20, 2016 2 years ago

Florida shines for cash-heavy homebuyers

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The top five regions for cash homebuyers nationally are all in Florida.

Cash homebuyers are disappearing on a national scale, but they are abundant in Florida, according to a new report from data firm RealtyTrac.

So much so that among 110 metro areas nationwide with at least 1,000 single family and condo sales in the first quarter, those with the top five highest share of all-cash buyers were all in Florida. The top five: Naples with a 57.1% cash share; Miami at 53.9%; North Port-Sarasota-Bradenton at 53.4%; Palm Bay-Melbourne-Titusville at 52.7%; and Ocala at 51.6%.

On a national basis, meanwhile, all-cash sales represented 31.8% of all U.S. single family and condo sales in the first quarter, down from 32.8% in the previous quarter and down from 35.4% a year ago. It was the 12th consecutive quarter with an annual decrease, according to RealtyTrac's 2016 first quarter analysis.

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