The share of cash sales increased from a year ago in 22 states, including Texas (32.4 percent compared to 21.5 percent a year ago), Indiana (31.1 percent compared to 21.7 percent a year ago), Massachusetts (30.7 percent compared to 24.0 percent a year ago), and Connecticut (36.9 percent compared to 31.8 percent a year ago.
Florida has the top five metros for cash sales share, all above 50 percent
Among metropolitan statistical areas with a population of at least 500,000, those with the top five highest percentages of cash sales were all in Florida: Miami-Fort Lauderdale-Pompano Beach (59.1 percent), Cape Coral-Fort Myers (55.8 percent), Sarasota-Bradenton-Venice (54.5 percent), Tampa-St. Petersburg-Clearwater (51.1percent) and Palm Bay-Melbourne-Titusville, Fla. (50.9 percent).
Other major metro areas with an all-cash share among the top 20 highest nationwide were Cleveland, Ohio (45.2 percent), Cincinnati, Ohio (43.0 percent), Syracuse, N.Y. (42.3 percent) and Greensboro, N.C. (41.0 percent).
Cash sales account for larger share of very high-end, low-end and distressed sales
Cash sales in the third quarter skewed higher on both ends of the home price spectrum. Cash sales accounted for 64 percent of purchases of homes selling for $100,000 or less, and cash sales accounted for 41 percent of purchases of homes selling for more than $2 million.
Cash sales represented a larger share of distressed sales, accounting for 54.6 percent of distressed sales — sales of homes in the foreclosure process or bank-owned.
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