Miami among top cities with the most cash sales — again
As the percentage of cash home sales drops for the 25th consecutive month nationwide, South Florida remains among the top metro areas with the most cash sales.
Miami-Dade had the second highest share of cash sales at 59 percent in January 2015, according a report released today by CoreLogic. Detroit led the country with 65.5 percent.
West Palm Beach and Fort Lauderdale took the third and fifth spots with 58.4 percent and 57.6 percent, respectively.
As a state, Florida had the biggest share with 56.3 percent, followed by Alabama and New York.
The share of cash sales share peaked in January 2011, when they made up 46.5 percent of total home sales in the U.S. In January 2015, cash sales made up 38.9 percent of all home sales nationwide.
In March, the Miami Association of Realtors released a report stating that the percentage of cash sales increased month-over-month from January from February.