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Cash Sales in Miami Lead the Nation

by James McClister

New cash sales report says more of the same – we’re staying consistent.
Cash-sales-corelogic-september-share

In September, cash sales increased slightly despite the autumnal slump, but remain at relatively low levels, according to a new report from CoreLogic.

In recent months, cash investors have been seen fleeing the market, driving down the share of cash sales, but in September, that trend reversed slightly. Up a single percentage point from August, September cash sales made up 34.8 percent of total transactions. However, measuring year-over-year, which is generally the best way to evaluate such trends, cash sales actually fell nearly three percentage points.

September’s decline represents 20 months of consecutive year-over-year losses, bringing us closer to the 25 percent level common in pre-crisis years.

In Florida, cash sales rose from 50 percent in August to 51 percent in September, and in Miami, the share stayed level at 56.2 percent. Continued investor interest, particularly from abroad, has kept the area’s share of cash sales well above most states – second only to Delaware’s 57.4 percent.

Check out our graph below to see how we compare

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