Florida Leads in All-Cash Home Purchases
Florida has become a stronghold for all-cash deals, driven by retirees, investors and competitive buyers in some of the state’s busiest real estate markets.
MIAMI — According to a Cash for Home study, 2023 county records showed that cash-based home sales are a growing option in 40 of the biggest, "competitive real estate markets" in the United States.
Three Florida cities ranked among the top 10 markets for all-cash house purchases. West Palm Beach accounted for 49% of all-cash home sales, followed by Jacksonville at 46.2%.
According to the survey, "These cities highlight Florida's magnetic appeal to retirees using equity from previous homes and investors capitalizing on the state's population growth."
Miami ranked No. 9 with 40.7% of homes sales sold for all cash from retirees and international buyers. Fort Lauderdale ranked just outside the top 10 at No. 11 with 40.50% of sales in cash. Orlando came in at 13th with 40%, and Tampa was No. 15 with 38.2%. Cash for Homes noted that "Florida is a stronghold for all-cash deals."
According to Redfin, the following buyers commonly come in with all-cash offers: People who recently sold a home, those in competitive markets, cash-for-home companies, home flippers, instant-buy companies and investors.
Source: Florida Times-Union (01/24/25) Bridges, C.A.
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