10 Markets Where More Buyers Bring Cash

10 Markets Where More Buyers Bring Cash

Daily Real Estate News | Friday, July 26, 2013

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%