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Cash sales dominating South Florida.

Cash deals are taking over South Florida's real estate market, as around 54 percent of home purchases in the tri-county area are all-cash deals, according to a real estate analysis by Zillow. In the boom, just 13 percent of South Florida's home sales were cash. South Florida had the highest percentage of cash deals in the fourth quarter among 11 major metropolitan areas in the country in Zillow's analysis. "I haven't pulled a mortgage in six months," said Corcoran's Anthony Pizzarelli, who works in West Palm Beach specializing in condo units. "You just have a lot of people with a lot of cash running around." [Palm Beach Post]
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Publication:The Real Deal
Date:Mar 2, 2011
Words:108
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