More Florida Buyers Are Paying Cash

March 17, 2011

With condos and homes selling for up to 60% off their all time highs, investors, move-up home buyers, and luxury home buyers are finding value in Florida real estate.  In December 2010, almost half of all buyers paid cash in the major markets in Florida. In the Tampa Bay area, over 44% of all buyers paid cash.  In Miami, over 54% of buyers paid cash.

Last year about 28 percent of all sales in the U.S. were cash transactions, according to the National Association of Realtors®. In 2008, the rate was only 14 percent.   In the last week, Zillow, The Wall Street Journal, and the Florida Association Of Realtors have all taken notice of this positive trend. 

Follow the green........when the cash buyers come back in significant numbers, watch for the market to improve!!!

Steve Eckhardt, Broker, Luxury Real Estate Professional

Contact me at (813) 765-1182

Comments

  • Hmmm....very interesting, indeed.   A move from heavy cash  positions into good hard asset investments, perhaps?    Fear of currency instability?    Hmmm...same thing in evidence in my secondary home/discretionary and generally "non-local" region.

    Liane ("Li") Read — March 18, 2011

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