Buyers using solely cash to purchase real estate have been very prominent in Florida this year. It has been found that this is still the case as of late.
Last month, the sunshine state led the country for the most cash sales in real estate. Specifically, Florida had the most cash sales for single-family homes and condominiums, this time with the top nine U.S. metro areas for no-loan deals all in Florida, according to an article by the Herald Tribune.
Statewide across Florida, home buyers used their cash in nearly 43 percent of deals, compared with 48 percent in 2014.
One area of the state that saw less cash sales year-over-year this time around was Southwest Florida. Experts believe this is because the market in Southwest Florida is currently more investor-driven than traditional home buyers.
All over the country, home sales are up. The volume of sales through July was the largest it has been since 2007 with a median sale price of $189,500, the highest since September 2008. The Vice President of RealtyTrac, a real estate information company and online marketplace, Daren Blomquist, says that this is “”a good foundation for sustainable growth going forward.”
“That’s not to say there are no cracks in the foundation of this recovery, the top three of which are housing affordability — or lack thereof in some high-flying markets — along with overdependence on capricious cash buyers — both foreign and domestic — in some markets, and the persistent overhang of underwater homeowners who continue to represent heightened default risk given any future economic shockwaves,” he said.
Whether you have a pocket full of cash or not, you are looking to make an investment in real estate or are ready to buy your dream home, check out all that RE/MAX Paradise has to offer 
and contact us today. The real estate market is a booming market right now, just waiting for you to become a part of it.