Miami’s Cash Buyers Represent More than Twice the National Average!

Cash deals represented 54.2 percent of Miami's total closed sales in March 2015, down from 60.5 percent in March 2014. Nationally, just 24 percent of all national housing transactions are m ade in cash. Since 82 percent of foreign buyers in Florida purchase properties all cash, Miami's high percentage of cash buyers continues to reflect South Florida's ability to attract international buyers.

The Miami real estate market, one of the most popular in the nation with international and domestic buyers, continued to gain momentum in March, as single-family home transactions registered double-digit growth year-over-year and existing condominium sales rose despite an increase in new condo construction, according to a new report by the 35,000-member MIAMI Association of REALTORS® (MIAMI) and the local Multiple Listing Service (MLS) system.

Pending home sales in March continued their recent momentum, rising for the third straight month and remaining at their highest level since June 2013, according to the National Association of Realtors®.

(Source: http://miamire.com/miami-news/2015/04/22/miami-residential-sales-prices-continue-upward-trend-in-march)