Home buyers who require financing for their home purchase can struggle to compete against buyers who have offers of all-cash.
Where are all-cash deals are the most prevalent? Cash deals represented 80 percent of home sales in June in Vermont; 58 percent in Nevada; 57 percent in Florida, and 51 percent in New York, according to RealtyTrac. Cash deals represent a very small percentage in Texas, Utah, and New Mexico.
The markets with the most all-cash transactions tend to have a high number of foreclosures and depressed home prices, which attracts investors and private equity firms. The following 10 metros had 40 percent or more all-cash deals out of the total home sales in June. Watch our video to learn more BASEL III: How REALTORS® Won Housing posts a win in getting costly capital requirements removed from Federal Reserve's 972-page BASEL III rule.
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