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October 31, 2014

10 Markets Where More Buyers Bring Cash

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10 Markets Where More Buyers Bring Cash

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: 

  1. Miami/Ft. Lauderdale: 64%
  2. Las Vegas: 62%
  3. Tampa, Fla.: 58%
  4. Detroit: 56%
  5. Orlando: 53%
  6. New York: 49%
  7. New Orleans: 43%
  8. Memphis: 43%
  9. Jacksonville, Fla.: 42%
  10. Atlanta: 42%

Source: “Housing markets where cash is king,” CNNMoney (July 25, 2013)

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