Cash Only Buyers Dominate Real Estate Market

Posted by Concierge on Thursday, August 1st, 2013 at 2:15pm.

If you thought “cash only please” was only for Mom and Pop shops, think again.  There are several housing markets where cash buyers dominate the market.  CNN reported that in Las Vegas during June 2013, 58% of the sales were all cash.  On average the all cash sales nationwide are 30% but in New York they were 51% of the sales and in Vermont an unbelievable 80%.  With the prices of housing rising, private investors are claiming stake in real estate.  In Atlanta, they have the highest amount of investors scooping up homes at 27% of the entire sales, the highest in the nation.  

1.    Miami/Ft. Lauderdale            64%

2.    Las Vegas                            62%

3.    Tampa, Florida                     58%

4.    Detroit                                  56%

5.    Orlando                                53%

6.    New York                             49%

7.    New Orleans                        43%

8.    Memphis                             43%

9.    Jacksonville, Florida              42%

10.  Atlanta, Georgia                   42%

With cash buyers being such a large component of the real estate market, it can make it hard to be competitive as a first time buyer.  If you are looking to buy a condo and want to know how to compete in this hot market, has agents all over the country and experiences in niche markets and neighborhoods of downtown.  

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