Zillow analyzed sales in the top 30 metro areas for the first quarter of 2014. Florida ranked throughout the top 10 markets for cash buyers:
1. Miami, FL
Zillow’s analysis found more cash deals in the Miami metropolitan area than in any of the top 30 metros analyzed. Homes bought there were bought with cash 64.9 percent of the time. Even the most expensive homes changed hands in cash deals roughly half the time. Business buyers are most likely to use cash, but individual buyers, too, are paying outright for Miami properties, especially the least expensive ones.
2. Tampa, FL
Even with a slight improvement in the housing market there, Zillow’s analysis found there are still lots of cash buyers in the Tampa area. In the retiree-rich market, it would be very tough to buy a home in the bottom of the area’s price range without cash. More than 81 percent of those homes were paid for outright.
6. Orlando, FL
Business investors dominated the cash market in Orlando, paying cash for 96 percent of the homes they bought in the bottom price range. About 70 percent of individual home buyers paid cash for homes in the same price range.
7. (tie) Jacksonville, FL and Memphis, TN
Nearly half of all sales in Jacksonville and Memphis were made with cash. In Memphis, the cash-buyer peak was at the end of 2012, when 60 percent of homes were bought with cash.
Among individuals buying homes in both places, most cash purchases are on the low end, as people snap up under-priced homes.
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