Cash still king in Florida real estate

SARASOTA, Fla. – Aug. 28, 2015 – In July, once again, Florida was tops in the nation in terms of single-family homes and condominiums bought with no financing.

Led by the city of Sebastian, markets throughout the state claimed the first nine spots on RealtyTrac’s list of metropolitan areas with the greatest share of cash real estate deals.

Some 54.6 percent of homes in Sebastian were purchased without a mortgage last month, compared to about 43 percent for Florida as a whole and an eight-year low of just 22.6 percent for the country overall.

Other leading Florida destinations for cash deals included Homosassa Springs, Sebring, Naples, Port St. Lucie, Charlotte County, and Sarasota-Manatee.

Source: Sarasota Herald-Tribune (FL) (08/27/15) Hielscher, John

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