The Real Deal Miami

South Florida is No. 2 in US for all-cash deals

State took top seven spots nationally in RealtyTrac report

May 08, 2014 03:00PM

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The Miami skyline

Forget financing — all-cash new and existing home deals are becoming commonplace throughout South Florida, according to RealtyTrac.

In the first quarter of the year, all cash sales represented 67 percent of new and existing home purchases in South Florida, according to RealtyTrac data cited by the South Florida Business Journal.

In fact, South Florida ranked second in the nation for all cash deals – only the Cape Coral-Fort Myers area had more, with 74 percent of purchases being made with cash.

Moreover, Florida metro areas took the top seven spots nationally for the highest percentage of all cash home sales. [SFBJ]Christopher Cameron