Miami's Cash Buyers Represent More than Twice the National Average
Cash deals represented 49.5 percent of Miami's total closed sales in May 2015, more than double the national average. Just 24 percent of all national housing sales are made in cash, according to NAR. Cash transactions represented 56 percent of total Miami deals in May 2014. Miami's high percentage of cash sales continues to reflect South Florida's historic ability to attract international home buyers, who tend to purchase properties in all cash.
Condominiums comprise a large portion of Miami's cash purchases as 63.9 percent of condo closings were made in cash in May compared to 33.2 percent of single-family home sales.
Miami Cash Buyers Twice National Average - WORLD PROPERTY JOURNAL Global News Center
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