Florida had the largest share of cash sales of any state in July, with 49.7 percent, a new report from CoreLogic shows.
For the United States as a whole, cash sales made up 32.9 percent of total home sales in July, the lowest share since August 2008 and down from 35.9 percent in July 2013.
Besides Florida, other states with the largest percentage of cash sales included Alabama (47.6 percent), New York (44.5 percent), West Virginia (42 percent) and Idaho (39.9 percent).
Of the largest 100 core based statistical areas measured by population, West Palm Beach-Boca Raton-Delray Beach had the highest share of cash sales at 57.9 percent, followed by Cape Coral-Fort Myers (57.3 percent), Miami-Miami Beach-Kendall (56.5 percent), North Port-Sarasota-Bradenton (55.8 percent) and Detroit-Dearborn-Livonia, Mich. (55.8 percent).
Washington-Arlington-Alexandria, D.C.-Va.-Md. had the lowest cash sales share at 15.4 percent.
Source: Jacksonville Business Journal.