Cash Sales Over 40% in 10 Markets

Cash Sales Over 40% in 10 Markets

Home buyers who require financing for their home purchase can struggle to compete against buyers who have offers of all-cash.  Where are all-cash deals are the most prevalent? Cash deals represented 80 percent of home sales in June in Vermont; 58 percent in Nevada; 57 percent in Florida, and 51 percent in New York, according to RealtyTrac. Cash deals represent a very small percentage in Texas, Utah, and New Mexico.  The markets with the most all-cash transactions tend to have a high number of foreclosures and depressed home prices, which attracts investors and private equity firms, according to RealtyTrac.   The following 10 metros had 40 percent or more all-cash deals out of the total home sales in June, according to RealtyTrac:

·         Miami/Ft. Lauderdale: 64%

·         Las Vegas: 62%

·         Tampa, Fla.: 58%

·         Detroit: 56%

·         Orlando: 53%

·         New York: 49%

·         New Orleans: 43%

·         Memphis: 43%

·         Jacksonville, Fla.: 42%

·         Atlanta: 42%

-           CNNMoney, July 25, 2013