Cash Buyers Rule South Florida Housing Market
If you are one of the many who need financing to purchase a home chances are you are having a hard time one. Wondering why? As of right now cash buyers are rule the$200 billion South Florida housing market. Ever since the housing market crashed wealthy foreign and domestic buyers have been investing their money in the abundance of inexpensive real estate.
Throughout the month of September over 60 percent of the transactions in both Broward and Palm Beach counties were cash deals, which is twice the national average. The number is also up in both counties from its position two years ago. And since lenders always give the best rates to those with good credit and steady jobs it will continue to be a struggle for potential home buyers to qualify for financing.
If you have any questions or you would like to further discuss the real estate market in South Florida contact Urbanism Group at 888-774-9692.