MIAMI—Local industry watchers know cash is king in Miami. Now, HousingPredictor data is proving just how royal cash really is in the tropical city.
Mike Colpitts, editor of HousingPredictor, notes that all cash home and condo sales are controlling the real estate market. Specifically, 65% of these residential real estate sales are all cash, according to the Miami Association of Realtors.
“Miami is a big exception in the nation’s residential real estate market—a wonderful story,” Colpitts tells GlobeSt.com. “Miami has good appreciation, and most of that is due to international buyers coming in to pick up the real discounted properties, condos and single family homes.”
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