Home Neighborhoods Orlando Florida Top for Cash Home Purchases

Florida Top for Cash Home Purchases

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Photo by flickr user justinshearer

If you’re having trouble buying a house because your constantly competing with cash offers, you’re not alone. According to one report Florida leads the nation in cash-only home sales.

Cash sales make up 66 percent of home sales in Florida according to a report released yesterday by RealtyTrac. This is up compared to 57 percent from July 2012 and is much higher than the national average of 40 percent. For the Orlando-Kissimmee area its 59 percent.

The Orlando Sentinel reports on how this increase in cash buyers can hurt first time home buyers:

Investor groups, international buyers, landlords and those in the market for vacation homes are fueling a cash-only market that has virtually shut out entry-level homebuyers, who can’t get approved for mortgages.

You can read more about the report on RealtyTrac.

Photo by flickr user justinshearer

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Photo by flickr user justinshearer

If you’re having trouble buying a house because your constantly competing with cash offers, you’re not alone. According to one report Florida leads the nation in cash-only home sales.

Cash sales make up 66 percent of home sales in Florida according to a report released yesterday by RealtyTrac. This is up compared to 57 percent from July 2012 and is much higher than the national average of 40 percent. For the Orlando-Kissimmee area its 59 percent.

The Orlando Sentinel reports on how this increase in cash buyers can hurt first time home buyers:

Investor groups, international buyers, landlords and those in the market for vacation homes are fueling a cash-only market that has virtually shut out entry-level homebuyers, who can’t get approved for mortgages.

You can read more about the report on RealtyTrac.

Photo by flickr user justinshearer