Here's Where Buyers Are Paying All-Cash

While the number of all-cash transactions is dropping nationwide, a few pockets across the country are still seeing a large share of buyers paying all-cash for their home purchase.

Read more: Fewer Home Buyers Pay All-Cash
Nationwide, the number of all-cash sales making up transactions has plummeted since peaking in January 2011 when cash transactions made up 46.5 percent of total home sales nationally. Now, that percentage has dropped to 33.7 percent of total home sales, according to CoreLogic's cash sales report.

The year-over-year share of cash sales has fallen each month since January 2013.

Despite the drops, cash sales still remain elevated by historical standards. Prior to the housing crisis, cash sales made up about 25 percent of home sales, according to CoreLogic. If cash sales continue to fall at the most recent pace, the share should hit 25 percent by mid-2017.

The largest number of cash sales are through real estate-owned sales, with nearly 57 percent of cash sales being from REOs. Resales followed with the highest cash share at 33 percent, followed by short sales at 30 percent and newly constructed homes at 15 percent.

The following states had the highest share of cash sales in April, the latest data available from CoreLogic:

• Florida: 51.4% of transactions were from cash sales
• Alabama: 48.5%
• West Virginia: 48.3%
• New York: 45.4%
• Kentucky: 41.4%

By metro level, the following cities had the largest number of cash sales:

• West Palm Beach-Boca Raton-Delray Beach, Fla.: 59.1%
• North Port-Sarasota-Bradenton, Fla.: 58.5%
• Cape Coral-Fort Myers, Fla.: 58.1%
• Detroit-Dearborn-Livonia, Mich.: 58%
• Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.: 56.9%

Meanwhile, Syracuse, N.Y., had the lowest share of cash sales at 11 percent, according to CoreLogic.

Source: Realtor Mag Online
http://realtormag.realtor.org/daily-news/2015/07/20/here-s-where-buyers-are-paying-all-cash?om_rid=AAFmZk&om_mid=_BVrTcoB9DsGkv7&om_ntype=RMODaily