A new study shows that almost two-thirds of Florida home sales in the first quarter of this year were done in cash. That is the highest rate in the nation and well above the national average of 42.7 percent, according to RealtyTrac.
The Miami metro area, which includes Palm Beach County, is among those with the highest rates of cash sales.
Four other Florida metro areas also had the nation's highest rates of cash sales. Those areas were Cape Coral-Fort Myers, Sarasota, Palm Bay and Lakeland.
Although the percentage of institutional investors has declined from the end of 2013, mom-and-pop investors and foreign investors are still finding Florida attractive.