The Real Deal Miami

Cash sales dominating South Florida

March 02, 2011 11:34AM

Cash deals are taking over South Florida’s real estate market, as around
54 percent of home purchases in the tri-county area are all-cash deals,
according to a real estate analysis by Zillow.com. In the boom, just 13
percent of South Florida’s home sales were paid in cash. South Florida had the
highest percentage of cash deals in the fourth quarter among 11 major
metropolitan areas in the country in Zillow.com’s analysis. “I haven’t
pulled a mortgage in six months,” said Anthony Pizzarelli with the Corcoran Group,
who works in West Palm Beach specializing in condominium units. “You just have
a lot of people with a lot of cash running around.” [Palm
Beach Post]