According to McClatchy News, one in three buyers of U.S. homes is paying cash, which is a record high number. Florida topped all states for all-cash home sales, at 55 percent of cash sales during the first three months of this year. That’s on a par with 54 percent for all of last year and 56 percent in 2012.
1. What percentage historically were all cash sales of residential real estate?
2. What do you think is driving these increased cash sales?
3. Use the interactive map and locate your state. What approximate percentage of cash sales exist; what amount are investment properties; and what percentage are distressed sales? Compare and contrast your state with another state and explain the divergent factors that you believe account for the variations.
4. What are some of the reasons for Florida topping all states in all-cash home sales?
Hall, K.G. (2014). Now more than ever, cash is king in real estate, May 8 (Retrievable online at http://www.mcclatchydc.com/2014/05/08/226797/now-more-than-ever-cash-is-king.html?sp=/99/200/328/)