The Real Deal Miami

Majority of Florida home sales still all-cash

In June, 51 percent of all homes were bought with cash
September 10, 2014 03:45PM

imgresCash still rules South Florida real estate. In June, Florida ranked No. 1 in the nation in cash home sales, according to CoreLogic.

Some 51 percent of all closings in the state were paid for with cash in June, according to the Miami Herald.

And cash deals accounted for 58.7 percent of home sales in the Miami-Miami Beach-Kendall area in June, and 58.5 percent in the Fort Lauderdale-Pompano Beach-Deerfield Beach area, the CoreLogic data showed.

Nationally, cash sales fell to 33 percent of total home sales, the lowest level since September 2008, when the financial crisis struck. [Miami Herald]Christopher Cameron